Delaying filing of bankruptcy
September 24th, 2007 by Questions
I got into serious financial trouble late last year after an accident left me badly injured. I have stopped paying creditors starting February 2007. I had a discussion with a trustee in April 2007 regarding a Division I proposal , I put off taking any action on it till today. Today I was served a statement of claim by the creditor whom I owe the largest sum of money to. My questions are: Is it too late to file a Division I proposal now? Should I wait until the judgement to file a proposal? Will my delay in taking action affect my discharge if the proposal fails and I go into bankruptcy?
taking action affect my discharge if the proposal fails and I go into bankruptcy?