Signed Chapter 7 Bankruptcy Papers June 30
I signed all the chapter 7 bankruptcy papers on Tuesday, June 30, 2009. It was like closing on a mortgage or getting a divorce. It’s that much paperwork.
It will take 3-4 weeks to go through the system, and then I’ll have to go to court and meet with the trustee.
After that is over, I’ll report what I had to keep and how much debt I discharged. It is around $280,000. The only debts I kept are my first mortgage, the second mortgage, the taxes I owe, and the student loans that are actually around $46,000, not $80,000. If I do end up paying them, I’ll try to negotiate a settlement. Not sure it will work, but all they can say is no.
Update 7/13/2009: I meet with the trustee on July 23. Then I have to complete post-bankruptcy financial counseling.
