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If a Chapter 7 is dismissed can the finance companies go back and add late fees and finance charges?
Wiki User
∙ 15y ago
If the court dismissed your Chapter 7 bankruptcy, it has the same effect as if the case had never been filed. The creditor is free to all interest and penalties allow under the contract or by law. And to be clear, even in BK they have the right to claim these (presuming they were in the loan agreement)....and normally do. They may receive a lower priority, and the Courts tend to discharge late/penalty items as a matter of course, and allow only limited interest...basically giving the debtor a substantial break...one you may have lost by doing whatever got your case dismissed.
Wiki User
∙ 15y ago
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