Chapter 13 bankruptcy,"Dismissed"?

if you filed chapter 13 in 1982 and it was %26quot;Dismissed%26quot; in 1988 what does it mean in layman language,my friend looked for info on the internet,but I can%26#039;t really explain it to her,because I%26#039;m not to sure myself, shes financed 3 cars(one in progress over the years) and has credit cards for many years again and she has good credit score she says,but she was clearing out her paperwork and found a letter that it was dismissed,is it finished ? if it%26#039;s not considered discharged ,is the case closed? so now what is the status of her case?

Chapter 13 bankruptcy,%26quot;Dismissed%26quot;?

The statute of limitations on collection on the debts would appear to be expired in most cases many years ago. Anything likely not entered into a a judgment by various creditors theoretically owed and or not maintained or paid or settled out would probably be eliminated by time itself in this case. It is of course possible there would be loose ends that need cleaned upand some lenders will not lend to someone who has filed bankruptcy period, at least not certain loan programs. I would anticipate that unless there was a thorough effort to make sure all the debt was paid it may somehow still exist but would likely be hard to find all of it by now as far as actual people owed it has been so long.

The discharged just means it was not completed according to the plan and the bankruptcy officially was not completed per guidelines basically. It is not too uncommon to hear of really.

She should have paperwork on all of it somehow and the attorney or trustee is matter of public record so she can get the papers you know.

Hope this helps.

Zilla Out.

Chapter 13 bankruptcy,%26quot;Dismissed%26quot;?

Case dismissed is not like case discharged. However, if she pulls per credit report it will say the ones closed with lost profit, the open ones and the ones that will be closed.

They will give her date and approximate year that it will be taken off her credit report. However, given the date she filed in 1982 believe me something is wrong because minimum after 10 to 13 years the Bk comes OFF your credit report and so will all the other debts because they all have statute of limitations.

Based on the Credit Reporting Act. Creditors have to take a debt off a report after 7 years if not then you can send a dispute letter to the three major credit bureau asking them to remove because it is way too old and you should not have any open accounts after it was included in the BK.

If you had a credit card debt that you last paid in 1980 then applied for BK the debts SOL will be expired on 1984 because it is four years; however, that does not mean creditors can not report it especially that it is dismissed and not discharged. Now, by 1995 your credit should have been cleared off for good not even your BK should be there.

I hope I was able to answer.

Chapter 13 bankruptcy,%26quot;Dismissed%26quot;?

A dismissed chapter 13 simply means that they stopped the case before the plan was completed. The dismissal could have come for any number of reasons, but the most common is that the debtor (your friend) failed to do something (like make the payments or to provide requested information to the court) to complete the plan. While this is not a good thing, it doesn%26#039;t matter at this late date. The case is most definately closed and should have come off her credit report at least by 1998.