Hi Gang It's been awhile since I have been around. Been busy moving and going back to work. Anyway, this is the sitch: My brother-in-law filed for BK. The creditors have been notified and he is going in for his court date in about 2 weeks. Is it too late to back out? Since the creditors have been notified, would this be a good time to dispute with the CRAs since the creditors can't report anything due to notification of the BK? I know it's pushing it alot on the latter point, but any port in a storm, right? Give me your thoughts, his court date is in about 2 weeks and I would hate to see him file if there is another way to get him back on his feet. Thanks for all the help. Bobbi
Whether he goes through with it or not at this point, it is still gonna show up on his report that he filed.
But, the minute he cancels the bk proceeding he loses the protection of the automatic stay and can't refile for 180 days. The creditors will then be turned lose again and will report whatever they will. Also, they will know he can't refile for 6 months so look for a rush of lawsuits to garnish wages and whatever other steps your state allows to collect a judgement. He could well be in for 6 months of rough waters.
So you guys are saying at this point he should go through with it. I don't want to mess around with something that could get him in deeper trouble. Thanks for the advice. Bobbi
