Bankruptcy Questions Answered

Matthew Hick asked:


If you are considering bankruptcy, you’ll need to know what to expect during each phase of the process after filing.

Here’s a basic overview of what to expect during the entire process:

First, you must decide which type of bankruptcy you want to file. Chapter 7 will free you of all of your debt, and allow you to begin rebuilding your credit after a few years. Many people do not qualify for this type of bankruptcy under new government guidelines established in 2005, however, which allow the court to determine if you indeed do qualify. Basically, the law requires you make less than the medium income in your state to file for Chapter 7 bankruptcy.

Chapter 13 bankruptcy requires you to pay back all of your debt within a specific timeframe in accordance to a schedule set by the court. While this may sound like a good solution, after all it’s allowing you to pay back everyone you owe, it can be difficult since the court decides how much of your income is used for debt payments, and how much you are able to keep to live on. Their criteria is usually stringent, and doesn’t allow for anything but necessities during the repayment period.

Once you’ve decided which type of bankruptcy to file for, it’s time to start filing out mounds of legal paperwork. If you’ll be filing yourself, be prepared to file app. 30 to 60 pages in your petition, including schedules and other papers filed at the time of your bankruptcy. You must follow all local and federal bankruptcy court rules carefully when completing these forms. It can be very tedious and confusing work. You must learn and understand a variety of bankruptcy laws and requirements specific to your state, and be able to type them in a specific manner.

About 4-6 weeks after filing for bankruptcy with the court, you will be required to attend a hearing presided over by the bankruptcy trustee called the First Meeting of Creditors. You will be required to answer detailed questions about your bankruptcy papers, assets, debts and other matters from both the trustee and your creditors.

Your creditors now have 60 days in most states to contest your bankruptcy filing. Once that deadline has passed you can expect the court t notify you of your official debt discharge in about 60 to 75 days.

Does filing bankruptcy mean the end of credit for a lifetime? Absolutely not! You can begin to reestablish your credit two years after the discharge of Bankruptcy. However, it will be recorded for 10 years and must be reported if asked. You may not file a new bankruptcy request for six years.



Bankruptcy Questions

mom03222007 asked:


I need to file for bankruptcy and I need a lawyer that is cheap and will let me do payments because I am a single mom. I have to file and because I can’t afford to pay all the bills and it cost a lot to file. Is there a way to file and be able to make payment on it? If so . Where can I go to get this done?

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Phillip Allen asked:


People who are considering filing for bankruptcy may have already tried loans, consolidations and other methods of getting out of their debts, but failed. Filing for bankruptcy can have serious consequences for the borrower, as the bankruptcy will be recorded on their credit file for 6 years. The need for bankruptcy comes when people are not able to pay off their minimum balances on the credit cards, car payments and home payments. Debtors who are facing financial crisis and who are considering for filing for bankruptcy should definitely speak to a bankruptcy specialist.

Filing for bankruptcy can be a very complex and time-taking process and can leave and person overwhelmed. Therefore seeking the help of an experienced insolvency practitioner for doing the task has numerous advantages, including peace of mind. There are practitioners who deal only with businesses, while others deal only with individuals; therefore, it is important to choose a practitioner who best suits the individual requirements and situation of the borrowers. If you need bankruptcy explained, a professional practitioner will be able to help the debtors in familiarising them with the legal procedures of the bankruptcy filing process.

An insolvency practitioner also helps in dealing with the creditors and working with the systems of the court for coming up with a better repayment plan. He or she is the one who will deal with all the extensive paper work needed to file for bankruptcy, by filling and filing all the paper work needed for their client. Otherwise, there is such a broad requirement of paper work during the bankruptcy process that can overwhelm any normal person. In addition to that, the practitioner will also help the client in gathering and liquidating the assets so that he or she can become debt free.

Taking help of a professional insolvency practitioner will help the borrower in getting out with the best possible deal. Although in some cases, legal proceedings can be done without an insolvency practitioner,  it is still advisable to have a one so that the borrowers can get the laws of the bankruptcy explained for them, unless the borrowers have extensive knowledge about the legal procedures of bankruptcy.



Bankruptcy Questions

Muna wa Wanjiru asked:


From time to time someone may become bankrupt. As there are different forms of bankruptcy the person will need to decide what type of action to take. For the person who is unsure about the type of bankruptcy filing action to take they need to discuss with their lawyer all of the different courses and options that can help. One type of bankruptcy that is well known is that of the chapter 7 bankruptcy.

This bankruptcy claim deals with consumer bankruptcy. In consumer bankruptcy you don’t have enough money to pay off your creditors. To give you some time to recover from this problem and to help appease your creditors you can file for a chapter 7 bankruptcy claim.

In this claim all of your property that is not exempt from credit payment will need to be turned over to the bankruptcy trustee. This person will proceed to convert this property into cash. Once all of your property has been liquidated into cash it will be distributed among your creditors.

There are certain people who can file for a chapter 7 bankruptcy claim. These people are those who live or have a residence in the US. People who work, own property in the US or a municipality of the US.

You can also file for chapter 7 bankruptcy if you have not filed for a chapter 13 plan or you have not had a chapter 7 bankruptcy filed during the last 6 years. On the other hand if you have had a bankruptcy claim dismissed with a reasonable reason and cause then you will need to wait for 180 days before you can file for chapter 7 bankruptcy.

When you decide to declare that you are bankrupt this fact must be verified by your lawyer. A means test will be used to prove that you are in fact in financial trouble which can only be solved by a chapter 7 bankruptcy declaration.

The means test that you will have to undergo will see if your monthly earnings are more than what is the norm for your state. Your cost of food, rent, mortgages and other living expenses are deducted from your monthly income.

If the IRS finds that your monthly salary is $100 less than your state’s median wages then you have the right to claim chapter 7 bankruptcy.

With chapter 7 bankruptcy almost all of your debts will be erased and you have the chance to start your life and business matters up again. You will however need to rebuild your credit reputation.

As chapter 7 bankruptcy can remain on your public record for more than 10 years you might want to think about using this bankruptcy filing only as a last resort.



Bankruptcy Questions

The CreditLawGroup asked:


Bankruptcy is an individual’s legally declared inability to pay back debt owed to creditors. There are several different types of bankruptcies. Most are voluntary where the individual files themselves because they are no longer able to pay back debts that they owe. Another type is involuntary bankruptcy where the creditors file a petition against the debtor to try and receive some of the money owed to them.

What are the different types of bankruptcies?

There are six types of bankruptcies in United States law and they are broken into six different chapters (7, 9, 11, 12, 13, and 15). The most common chapters filed are chapters 7 & 13. Almost 65% of all bankruptcies filed are chapter 7.

What is the outcome of a bankruptcy?

In most cases, filing for bankruptcy will stop creditors from calling, at least until all your debts are sorted out in accordance with the law. Most times filing for bankruptcy can relieve an individual from temporarily getting their home foreclosed, getting wages garnished and getting automobiles repossessed. Chapter 7 bankruptcy is the most common and it allows you to discharge most of your debts with your creditors. However, you have to liquidate your assets to be auctioned off. Some things you normally are allowed to keep are: your primary residence, car, clothing, work related tools, and basically necessities. Chapter 13 is basically a court organized payment plan and usually does not require you to liquidate your assets.

How does bankruptcy affect my credit and credit score?

Bankruptcy does not look very favorable on your credit report and should be considered a last resort for overcoming your debt. In most situations, bankruptcy will damage your credit rating so severely that you may not be get approval for credit for many years. It is one of the few items that will stay on your credit report for 10 years. All other items such as late payments and delinquent accounts stay on your credit report for only 7 years. Having a bankruptcy on your credit report for 10 years will most often than not prove to be a severe burden for most people. The severity of the damage a bankruptcy does to your credit score is right up there with foreclosure.

How we can help you

CreditLawGroup.com provides low cost legal representation in disputing inaccurate, incorrect or unverifiable information contained on credit reports from the three major credit bureaus, Equifax®, Experian® and TransUnion® and their affiliates. You can monitor your progress online, as well as speak to your Paralegal whenever needed by phone or email. We have excellent customer service, and are always there to meet your needs! Speak to a credit repair analyst today!



Bankruptcy Questions

Gen Wright asked:


When big Investment banks like Lehmann Brothers and Washington Mutual filed for a bankruptcy claim, did you ever wonder what the reality behind the claim was? What is there for the companies filing for a bankruptcy and how did the creditors get their money back? If yes then read on and you will not only get answers to your doubts but also get to know bankruptcy claims inside out.

Most of the countries in the world have a clause in the companies act, under which companies are incorporated, which gives the provision to a limited company, to file a document with the court to register a claim against the assets of the company.

This claim determines the amount the company owes to its creditors as of the date of the bankruptcy filing and, in some cases the claim also determines the priority status awarded to any creditor. This process is known by different names throughout the world. In the United States this document is called proof of claim. This document also is the point from where the proceedings start. The form is different although they share many similar aspects.

Upon receipt the proof of claim or document of claim, the Trustee in bankruptcy must notify the creditor or creditors about the claim being filed and have to seek their assent regarding the proceedings of the claim. If the creditors allow, which, is usually the case, then the case proceeding starts in the court of law.

But, if the claim is objected by the creditors then the court sets a hearing date to resolve the dispute by court hearings.

The assets of the bankrupt firms are dissolved to pay creditors their share. The claims are first paid to administrative creditors, then to priority unsecured creditors according to their statutory priority, and finally to the non-priority unsecured creditors, with all claims paid pro rata with other members of the class.

But is it a good idea to go for bankruptcy? Most of the companies which run out of funds and get debt ridden, on most of the occasion start thinking of going for a bankruptcy route to get out of debt. But if the intention is to get out of debt then bankruptcy is not a wise way. A lot of reputation is lost en route.

Bankruptcy also comes up with a lot of bad consequences like poor credit rating. If you or your company has filed for a bankruptcy claim then the credit report is marred for as long as 10 years and thus chances of raising a loan or even a job again, will be minimal.

Banks will seize your bank accounts and cancel your credit cards and everything bought in the name of the company will be sold.

Bankruptcy should thus be used as a last resort and not an easy way out. Filing a bankruptcy is a very complex process and credible and legal help should be sought before going for the claim.



Bankruptcy Questions

Muna wa Wanjiru asked:


When a person files for bankruptcy they will need to fill out bankruptcy forms that pertain to their case. These bankruptcy forms must be court approved and they must be valid. You can get these bankruptcy forms when you talk with your lawyer about the best way to solve your financial problems.

There are different places where you will be able to find bankruptcy forms but you should let your lawyer examine the forms before you start filing them. Sometimes to become familiar with the different questions that you will find in these bankruptcy forms you can use free downloadable bankruptcy forms.

As bankruptcy filing is a very complicated process you will need to discuss the different questions that are in these bankruptcy forms. It is best to ask questions about the different aspects of these forms as sometimes you may become very confused.

You should also find out what will happen to your bankruptcy claim once the filing process is concluded. As there are different types of bankruptcy you should make sure that you are filing a bankruptcy form that is applicable to your case.

You can find also see about using bankruptcy kits. These kits provide you with information about the different types of bankruptcy and what you need to fill on the various bankruptcy forms.

You should be aware that these bankruptcy forms will be very lengthy as there may be many pages of information and questions for you to fill out. In the process of looking through the different bankruptcy forms you may find that some of these forms state that you have no need to hire a lawyer.

The smart individual will be cautious with such claims as sometimes your lawyer will have trouble deciphering the terms that are being set out. To prevent your getting into problems you might want to see what your lawyer has to say about these different bankruptcy forms.

You can download the different instructions that are needed for bankruptcy forms and see what type of information that you need to have prepared for your lawyer. Having the various information and data ready can help you to fill your bankruptcy forms with a minimum of hassle.

So the next time that you are looking at bankruptcy forms you should see your lawyer. This way you can take advantage of the information that you have about bankruptcy and finalize the necessary bankruptcy forms.



Bankruptcy Questions

Rayven Perkins asked:


Bankruptcy can be emotional and embarrassing. You may have a hard time looking your children in the eye, and feel that you have let everyone including yourself down. The main thing is to promise yourself to learn from the experience, and try to change your life so that you don’t end up back in the same situation again.

If you are a low income family, and have little or no actual assets you will probably want to simply file for a chapter 7 bankruptcy and discharge of debts. This requires that your estate be liquidated, and as much funds as possible divided up among your creditors. The remaining debt is discharged, and creditors are no longer allowed to pursue it but must write it off.

Liens on your house and / or vehicle should be examined to see if they are exempt from this process, and if not you will need to consider whether you should have them excluded from your chapter 7 bankruptcy filing. A house that is mortgaged for more than it is worth and has payments too high for you to realistically afford may have to be relinquished.

If you have good employment, but have had a tragedy including overwhelming medical bills or some other type of devastating but temporary setback, you may wish to consider a chapter 13 bankruptcy filing. This type requires a trustee to oversee your finances and work out a re-payment to submit to a judge for approval.

Normally, the chapter 13 bankruptcy repayment plan will call for a set dollar amount to be paid regularly for a specific amount of time, and the remaining balance will be discharged. Both you and your creditors will be expected to abide by the terms of the agreement. This ensures that you can continue to live normally, but gives you the chance to catch up on bills and regain your stability.

A word on refinancing a home after a bankruptcy; many people think that this will be impossible, but there are many lenders willing to give second chances in return for your business, and in an odd way the bankruptcy confirms one thing - at least you aren’t a risk for filing bankruptcy as you will be disallowed from filing again for several years.

In fact, people who file bankruptcy often see their credit score bump up a little almost immediately. Strange as it seems, many lenders view filing for bankruptcy as a sign that you are trying to turn your life around, and by bearing that out over a course of a year or two you will probably be viewed as an average loan applicant rather than a high risk one.

The main thing to take away from a bankruptcy is self forgiveness and the determination to change your life and avoid having to ever take such action again. Learn from your mistakes, instill better financial practices in yourself and your family, and put the bankruptcy behind you. Move forward, and make sensible money decisions and financial choices a part of your everyday life!



Bankruptcy Questions

Marc Chase asked:


Every day thousands of consumers are harassed by debt collectors and many of them have their rights violated by these collectors. The good news is that you can use those violations to have the debts eliminated and your credit repaired in the process. If you know the law, your credit repair process won’t have to rely on generic dispute letters or luck. Let the debt collectors do it for you and you can have your credit repaired, legally and permanently. Here is how…

Debt collectors are governed by the Fair Debt Collection Practices Act (FDCPA). One section of the Act clearly states consumers cannot be contacted at inappropriate places, like work. I can’t tell you how many collection agents violate this section of the law. There is a caveat however. They may contact your work unless they know your employer does not allow it. Simply write the debt collector notifying them that you cannot be contacted at work and make sure you send it Certified mail, return receipt requested. Should they contact you at work after that, they are in violation of the FDCPA and in a position where negotiation of the debt is usually a piece of cake.

Why these mistakes are common Most debt collector’s phone systems are set up on an automated dialing system. These systems handle thousands of client cases. When your name comes up, the computer automatically dials the numbers it has on file. When you put in a special request (like not calling your work) your file has to be pulled manually and dialed by hand. This rarely happens and therefore, violations commonly occur and leaving the door wide open for you to sue to have it removed.

Negotiate to delete the trade line for their violation. Once the debt collector has violated your rights, simply send a letter with a copy of the following.

* The copy of your original letter where you said you could not be contacted at work

* A copy of the Certified Mail receipt you received which is proof they were notified

* A new letter demanding a deletion of the trade line from your credit report. You may include that you intend to file complaints with the FTC, BBB, Attorney General and you can add that you intend to sue for damages as well.

You will find, once they are caught red handed, negotiations become very easy.

How To Remove A Bankruptcy From Your Credit Report

Credit report repair can be a long, tedious process and one of the hardest items to get removed is a bankruptcy.

In order to remove a bankruptcy, you must remove everything else from your credit report first, here is why…

If you have a bankruptcy and several accounts under it entitled “included in bankruptcy” the credit bureaus will simply assume it’s accurate since you have accounts that are covered under bankruptcy protection.

The First Steps: Go over your credit report very carefully. If you live at an address other then the address where you filed, have it removed. Debts are often tied to addresses.

Then, dispute and remove every account showing as “included in bankruptcy”. This shouldn’t be hard since creditors have very little incentive to verify the information. Why would they? They can’t get paid on it.

This process can take several months be patient, I promise it will pay off. Let’s look at how bankruptcy files are stored; it is the key to successfully removing it from your credit report.

How your bankruptcy is filed and stored. After two years, your file is moved from the local court at which you filed, to a central storage facility. If you go to your local court and request to see your file, they will have to order it and have it brought back to the court.

Have them order it. The time it takes to arrive is about a week. Once it arrives they will put it in a special place and notify you that it has arrived.

Let me back up for a moment. Once you order your BK file, wait about 3 days and then send a dispute to the credit bureaus. They will then call the “storage facility” where your bankruptcy file should be - and discover it won’t be.

It will be either in transition back to your local court, or already there and waiting for you to come view it.

Stall tactics are key. Once your file arrives back to the local court, they will start calling you to come view it. It is very important that you delay as long as possible. Remember, credit bureaus have 30 days to verify any disputed debts and it’s very important you keep your file in that “holding room” for as long as you can.

Tell them, you’re extremely busy at work, but will be there Monday. Call Monday and inform them you had an out of town meeting and promise to be there Friday. What you’re trying to accomplish is keeping that file on hold the entire 30 days while the credit bureaus tries to verify its existence.



Bankruptcy Questions

Jay S. Fleischman, Esq. asked:


The cost of bankruptcy is one of the most immediate concerns for people who are considering it - after all, how can you pay to have an attorney handle a bankruptcy filing when you don’t have the money to pay your bills? Since collectors have probably been hounding you for months and getting every penny they can out of you, it’s understandable that the cost of bankruptcy would be a major worry.

There are a number of factors that determine what you will pay in attorney’s fees for filing bankruptcy - the prevailing rates and number of bankruptcy attorneys in your area, the complexity of your situation, and the type of bankruptcy you will be filing. Also, some attorneys charge a flat fee, while others quote fees on a case by case basis.

While cost is certainly a major concern for you right now, it’s not always the best idea to just hire the cheapest bankruptcy attorney you can find. ”You get what you pay for” is a maxim that certainly applies here. If you run into unforeseen complications with your filing, you want to be sure that your attorney will have the experience and expertise to keep things on track. A seasoned attorney probably won’t be the cheapest around, but he or she will be there to answer questions, deal with complications, and make sure that you end up free and clear of your debt.

Some attorneys allow clients to pay their fees in  installments - if you can’t come up with the entire fee, this might be a good way to get the bankruptcy process started. Just keep in mind that paying in installments might delay your filing. Some states also have programs that provide volunteer attorneys to handle your bankruptcy case at no cost.

Once you choose an attorney, make sure you get a statement of your fees in writing - this way, you will know the exact cost of your bankruptcy filing.

For many people, the cost of bankruptcy seems like a huge obstacle. However, if a creditor offered to wipe out all your debt for just a few hundred dollars, you’d likely jump on the chance. Essentially, bankruptcy offers the same opportunity.



Bankruptcy Questions

John Doe asked:


I filed over 2 and a half years ago and was discharged little over 2 years ago. My question is how long after I am discharged do I have the right to include someone in on my bankruptcy? Because 2 months after I was discharged one creditor that wasnt on my bankruptcy but I was deliquent at the time of the discharge is now reporting negative info to the credit companies.

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? asked:


I had a very bad injury and now no income, I can not afford to pay for car or any other bills, bankruptcy is only option. How hard is it to rebuild your credit?

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Ted asked:


I filed for bankruptcy, but then my finances improved and I was able to pay my bills, so the bankruptcy matter was dropped and I was never declared “bankrupt” by the court and got no relief. Will this show up on my credit at some future date?

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sandhsand asked:


This month makes 10 full years since I filed full bankruptcy. What steps can I take now to get it off my record?

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honestjoe asked:


My wife and I make enough money to afford an apartment or a modest house. However, both of our credit records are poor. So we were told to file bankruptcy. We just need to know how long we will have to wait to get an apartment, since they ALL require credit reports.

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freewainwright asked:


I have around $35k in debt. The debt is all personal debt and there are no co-signers nor assets in question. As for my personal assets, I don’t believe I really have any. My car is eight years old and I live in an apartment. I was considering filing bankruptcy before I begin a new job and get better pay (therefore, they do not see a bigger paycheck and feel I can pay back my loans).

So, the question is, what bankruptcy should I do if there are no assets which can be liquidated to pay back my debtors?
Funny how many people jump down someone’s neck when they talk about bankruptcy. I guess Enron, K-Mart and others are fine, but regular humans are not? Get a life, people…

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vintageapple asked:


My husband and I are about to start bankruptcy, but I would like to know how badly it will really affect our credit. I know we cannot do much for owning our own home for approximately two years, but what about other debts, like car loans? Also, once someone has completed bankruptcy, what are some pointers you can offer to begin rebuilding credit (other than paying everything on time)? Thanks!

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LATANYA N asked:


I filed in 2001. I disputed my bankruptcy and a lien with all 3 credit bureaus.
Transunion removed the lien not the bankruptcy
Equifax removed the bankruptcy and not the lien
Experian wouldn’t remove neither one.

Now i know once you dispute an item the creditor has 30 days to respond or its removed from your file how can i get the others removed or do I just have to wait it out

If one bureau remove it dont the others have too.

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T.J asked:


I filed for bankruptcy (chapter 7) a year ago and successfully had it discharged. I’m in teh process of rebuilding my credit and I pulled my credit report and all the creditors included in the bankruptcy have my accounts listed as “bankruptcy” which is destroying my credit score. Is there any way I can have those accounts removed since they are all closed and were included with the bankruptcy? Does anyone have any tips on rebuilding my credit? My score is currently 530 and I would like to raise it to the average but it seems like it hasn’t been going anywhere. What can I do?

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sixfiguredesi asked:


I may have to file bankruptcy and my credit application has an overstatement of assets. There was no fraud intended and I do have net assets of the amount stated. However, there is no date on the application. Can it be thrown out?

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Miko L asked:


I am filing for bankruptcy because of credit card debt, and a suit from a former employer. I’m dead set on getting my financial world in order, so what steps can I take to get good credit after bankruptcy, and how long will it take?

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Christian asked:


I am on limited income (Social Security Disability) and am in debt due to the actions of a former “friend” of mine. I am considering filing for bankruptcy to get the creditors off my back, and to start over fresh after a certain period of time has gone by (not sure how long that is; I’ve heard 7 years.) I am a responsible person when it comes to paying my bills on time, and the only reason why I’m in debt right now, is because I had trust in the wrong person.
Can you please tell me what process is involved in filing for bankruptcy, if there are any costs (are people who are on limited income, exempt from any fees), and what some pros and cons there are in filing for bankruptcy. Please be as specific as you can. Thank you.

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Matthew Hick asked:


There are a lot of things people don’t know about bankruptcy. Misconceptions are abundant, especially with the new law changes that took affect in 2005. If you’re confused about what bankruptcy means - and doesn’t mean - then check out a few of the things listed below…

You must be flat broke to file for bankruptcy.

Wrong. The fact is, the only criteria to filing for bankruptcy are an inability to pay your debt as it comes due. Actually, waiting until your mortgage company is ready to foreclose to file for bankruptcy leaves you with fewer options to safeguard your financial future.

If you file for bankruptcy, you’ll never be able to get credit again.

Wrong. You can begin rebuilding your credit two years after fulfilling your debt requirements under your bankruptcy agreement. Although it will remain on your credit record for ten years, many people can begin to slowly rebuild their credit rating by paying their rent, mortgage and utilities on time; then applying for a low credit limit store credit card; and finally applying for bankruptcy loan when they are ready.

Once you’ve gone bankrupt, you can never own a home.

Wrong. Once you begin to rebuild your credit, creditors of all types - including mortgage lenders - will begin to consider lending you money. Your interest rates may be higher, but it is possible to obtain a loan. Sure, it’ll take awhile to prove to lenders that you can handle payments again, but it is possible to buy your own home following a bankruptcy.

Taxes cannot be discharged in bankruptcy.

Wrong. Some are such as personal income taxes that are more than three years old.

My student loans aren’t dischargeable under the new bankruptcy laws.

This one is generally true, but there are some exceptions. If the debtor can prove certain hardship, student loans may be dischargeable.

If I signed an agreement stating that a debt cannot be discharged in bankruptcy, it is my debt forever. Wrong. Although there are extremely limited exceptions, these bankruptcy clauses are unenforceable and are a tactic used to scare debtors into not filing bankruptcy.

I can lose my job if I file for bankruptcy. Wrong. It is illegal to fire someone for filing for bankruptcy. If, however, you apply for a new job after filing for bankruptcy, a potential employer can use the bankruptcy filing as a factor in deciding whether to hire you or not.

Now that you understand some of the misconceptions surrounding bankruptcy, you’ll be better prepared to make an informed decision as to what is best for you and your family.



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sixfiguredesi asked:


I may have to file Ch7/13 and my loan application has an overstatement of assets. There was no fraud intended. However, there is no date on the application. Can it be thrown out in bankruptcy court?

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