Legal Question in Bankruptcy in Pennsylvania

Bankruptcy

I'm not sure what bankruptcy I'm filing until Monday...By the sounds of it, Chapter 7. I have a couple of questions - which could wait but oh well. First question, I think I know the answer but I want a 'back up' I have an ex-landlord that wont get off my case and has filed two judge ments against me. I paid one and the second one I refused. She has frozen my savings and my checking accounts in the amount that I supposedly owe her - will this be removed from my bank account when I file or am I too late? I'm not sure how the bank could show I owe the money if they had not paid it to her; it's kind of got me worried. And will she find yet another way to harrass me or does she finally have to leave me alone?

Second, why does my attny. want my landlord's information? These landlords 'love' me and I'd hate to be embarrassed by them knowing I'm filing bankruptcy. Is my attny. going to tell them?

Last, will bankruptcy really improve my credit score in a couple of years?

Just a note...It irritates me that student loans are not dischargable; they are loans, I know they are gov't but I still have to pay them back; it will be like going back to pre-college income because my payments = $600 per month!!! (Sngl mom 2 active boys!)


Asked on 4/20/07, 1:33 am

1 Answer from Attorneys
John Gibson John W. Gibson, Esquire

Re: Bankruptcy

You should take a copy of the Notice of Filing to your bank as soon as you receive it. Your attorney will be happy to provide a copy and it may not be too late. If it is too late and the money was already transferred, the trustee may set aside the transfer as preferential. You attorney must list any security deposit that you have made on your Petition and that may be why he asked about that but I'm not positive of the reason. Finally, no one can accurately predict the future but if the past few years is any indication, bankruptcy dramatically improves your credit rating within a short period of time. The question of what to do with student loans is a thorny one. They are not dischargeable in bankruptcy and the ones that were taken out many years ago may have higher than commercial interest rates. I suspect that quite a few people in bankruptcy used credit cards or other types of loans to pay off student loans and then wrote off the debt in bankruptcy, but that would be a dangerous thing to do since I think it would amount to bankruptcy fraud.

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Answered on 4/20/07, 12:15 pm


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