You’ve received your discharge in your New York bankruptcy case, assuming your case ended in one, and the trustee has concluded all other tasks on your case. The bankruptcy court orders your case closed. You’re free of your debts! You have your fresh start! Hooray!
But now what?
Is there anything you need to do from here? Do you just go back to your normal life?
You should be able to, but there are some things former New York bankruptcy debtors should do shortly after their cases are closed. Here are a few:
(1) Resume using Internet banking. Some banking features that households didn’t have fifteen years ago are indispensable today, namely online bill pay or automatic withdrawal features. Banks usually (i.e. they should) deactivate these for debtors in bankruptcy to comply with the automatic stay. However, once bankruptcies are over, former debtors are free to use them again. They are convenient, so former debtors should get back into the habit of using them.
(2) Pay debts that weren’t discharged. If debtors owed debts that survived bankruptcy, e.g. student loans, some tax debts, or child support obligations, then they will need to continue paying these debts just like before bankruptcy. Importantly, these debts don’t appear on discharge orders, so former debtors will need to list them out themselves. Fortunately, any income that went to discharged debts before bankruptcy can be reallocated to these obligations.
(3) Pay for liens on debts that were discharged. In a similar situation, many former debtors must continue paying on liens on property that are based on now-discharged debts. To keep the properties, former debtors must keep paying as though the debts were still there.
(4) Start saving. Former debtors can accomplish this by opening savings accounts and scheduling automatic withdrawals. This can help create a cushion in case of problems and even prepare for retirement.
(5) Save bankruptcy paperwork. The most important court filings former debtors need to save are their petitions and discharge orders in case zombie debt collectors come along and demand payment on discharged debts. Click to read, “What Do I Need to Save From My Bankruptcy and Why?”
(6) Obtain a credit report. Several months after bankruptcy former debtors should verify that their credit reports reflect that their debts were discharged and that they no longer owe money on them.
The time after bankruptcy should be a relief, but these are some good ideas for ensuring things keep improving after discharge. For those on the other side of the process, if you are experiencing financial challenges, then talking to an experienced New York bankruptcy lawyer can help you assess your options.
For answers to more questions about bankruptcy, the automatic stay, effective strategies for dealing with foreclosure, and protecting your assets in bankruptcy please feel free to contact experienced bankruptcy attorney Brooklyn NY Bruce Weiner for a free initial consultation.
