Hi Everyone, I'm new to the board and still in the research/game plan phase in cleaning up my reports (which are an unholy mess!!). For kickers, I decided to take a look at my boyfriend's TU and he has 3 BKs listed - 2 are dismissed and 1 is discharged. Could someone please explain to me what is the difference between a Discharge and a Dismissal? He says that he refiled twice from the original filing (don't know if this makes a difference). Any information would be greatly appreciated!! Thanks! Pandora
Pandora, He filed twice and for whatever reason had to dismiss them and, finally got it right the 3rd time. All 3 will show for 10 years.
Thanks for the reply! I was looking for a definition of what this means. He already told me that he refiled (see my 1st post). Thanks again! ps. This board is great!! I've been 'lurking' for a while reading and can't tell you how much I've learned. I'm itching to start on mine, but I want to make sure that I have all my ducks in a row before I do. I'm not looking to dispute anything on my boyfriend's, just wondered what it meant. I did a search on the board for bankruptcy vs. dismissal but never could find what I was looking for (what do they both mean?). Thanks!
Assuming these are chapter 13's, as per TU and apparently only TU (not sure about exp and eq), they will fall off after 7 years. BK 7 - 10 years.
Thanks LKH - but still not what I'm looking for. They were all Chap 13. Maybe if I phrase it like this: What is a Bankruptcy Dismissal? What is a Bankruptcy Discharge? How are they similar or how do they differ? Sorry, I'm really not trying to be difficult! Thanks!
If someone could give me a link I could look for the information myself -- just not sure where to look. Any help is greatly appreciated!! Pandora
If a Chapter 13 is dismissed, it just means that the plan that was agreed to could not be completed. THe trustee or, the petioner may dismiss and then, refile another plan. When a BK is discharged, that means the petitioner did complete the plan and all obligatins are satisfied.
THANK YOU THANK YOU THANK YOU!!! That's exactly what I needed! I never filed BK before, so I was unfamiliar with the verbage. Thanks again!! (I love this board!!) Pandora
