Big Decision/bankruptcy- Budget101 Discussion List

I did 'it' over 10 years ago and my attorneys first bit of advice was take the credit cards and finishing maxing them out with groceries, lots of dry goods, paper products, can goods ect.....then toiletries, and finally clothes. We did and some items lasted a year.

advice, bankruptcy, big, bit, cards, clothes, decision, dry, ect, finally, finishing, goods, groceries, items, las, lots, produc, products, teresa, years, paper, lasted, year, toiletries, maxing, attorneys, decision/bankruptcy, credit

Page 1 of 2 1 2 LastLast
Results 1 to 15 of 17
  1. #1
    purplebunnyfoofoo
    Guest

    Default Big Decision/bankruptcy


    I did 'it' over 10 years ago and my attorneys first bit of advice was take the

    credit cards and finishing maxing them out with groceries, lots of dry goods,

    paper products, can goods ect.....then toiletries, and finally clothes. We did

    and some items lasted a year.





    *~*Teresa Lavey*~*










  2. #2
    angies_groups
    Guest

    Default Big Decision/bankruptcy




    Teresa,



    I doubt your lawyer would want you to tell
    people about that because he has counseled you to commit credit card fraud. I
    don’t recommend that anyone do anything like that just prior to filing. I’m
    not sure why you think that ripping off the credit card companies (buying
    things you know you are never going to pay for) is okay. This is part of the
    reason that fees are so high. And is that really the lessons we want our
    children to learn?






    From: Budget101_@yahoogroups.com [mailto:Budget101_@yahoogroups.com] On Behalf Of purplebunnyfoofoo

    Sent: Tuesday, July 01, 2008 2:20
    PM

    To: Budget101_@yahoogroups.com

    Subject: Budget101.com : Re:Big
    Decision/bankruptcy








    I did 'it' over 10 years ago and my attorneys first
    bit of advice was take the credit cards and finishing maxing them out with
    groceries, lots of dry goods, paper products, can goods ect.....then
    toiletries, and finally clothes. We did and some items lasted a year.



    *~*Teresa Lavey*~*











  3. #3
    J Diane Northcutt
    Guest

    Default Big Decision/bankruptcy



    We just filed bankruptcy this past February. I can assure you that the bankruptcy laws have changed in the last 10 years. You cannot go out and run the cards up just before filing. Our lawyer told us that the courts do not want to see any new credit charges in the four months prior to your filing. If you do fraudulently run them up knowing that you are about to file, the creditors have a right to challenge your discharge.

    Diane
    [quote]
    ----- Original Message -----
    From: angies_groups
    To: Budget101_@yahoogroups.com
    Sent: Wednesday, July 02, 2008 8:20 AM
    Subject: RE: Budget101.com : Re:Big Decision/bankruptcy






    <DIV class="Section1">
    Teresa,

    I doubt your lawyer would want you to tell people about that because he has counseled you to commit credit card fraud. I dont recommend that anyone do anything like that just prior to filing. Im not sure why you think that ripping off the credit card companies (buying things you know you are never going to pay for) is okay. This is part of the reason that fees are so high. And is that really the lessons we want our children to learn?





    From: <ST1>Budget101_@yahoogroups.com</ST1> [mailto:<ST1>Budget101_@yahoogroups.com</ST1>] On Behalf Of purplebunnyfoofoo
    Sent: Tuesday, July 01, 2008 2:20 PM
    To: <ST1>Budget101_@yahoogroups.com</ST1>
    Subject: Budget101.com : Re:Big Decision/bankruptcy


    <DIV id="ygrp-msg">



    I did 'it' over 10 years ago and my attorneys first bit of advice was take the credit cards and finishing maxing them out with groceries, lots of dry goods, paper products, can goods ect.....then toiletries, and finally clothes. We did and some items lasted a year.

    *~*Teresa Lavey*~*








  4. #4
    Liss
    Guest

    Default Big Decision/bankruptcy



    >>I did 'it' over 10 years ago and my attorneys first bit of advice was take the credit cards and finishing maxing them out with groceries,<<


    WHOA, Back the Train Up... DO NOT DO THIS. While this may have been the norm 10 years ago, Bush changed all of that when he approved a major overhaul on how bankruptcies are handled. Bankruptcy code section Section 523(a)(2) makes this Illegal and Fraudulent.

    A few things, if you owe Sears any money,realize that no matter what youWILL have to Pay them. They WILL send someone to court to collect& fight no matter how meager the amount.I know of someone whose Eyeglasses were repossessed in Bankruptcy court (as that was the item charged on the sears Card).


    Here are 7 Bankruptcy tips:


    <H3 class="post-title">Seven Mistakes To Avoid Prior to Filing Bankruptcy </H3>
    <DIV class="post-body">




    The actions an individual takes leading up to filing bankruptcy can drastically affect his ability to get a "fresh start." By avoiding these seven mistakes, one can travel successfully through the bankruptcy process without losing a pound of flesh.

    1. THE CREDIT CARD RUN-UP MISTAKE: Don't use your credit cards once you have made your decision to file bankruptcy. Charges for luxury goods and services owed to a single creditor, totaling to more than $500.00 within 90 days of filing, are presumed nondischargeable and may be found to be due and owing. Cash advances totaling to more than $750.00 for all creditors within 70 days of filing are also presumed nondischargeable and may be found to be due and owing. Don't jeopardize your "fresh start" by running up your credit cards.

    2. THE REPAY A FAMILY MEMBER MISTAKE: You cannot treat your family member any better than you would an ordinary creditor with regard to repaying debts. In fact, a bankruptcy trustee can reclaim any amount repaid to a family member within one year of filing bankruptcy, although amounts under $2,000 are generally too small to bother with.

    3. THE LIQUIDATE YOUR RETIREMENT ACCOUNT MISTAKE: Retirement accounts are generally protected. You can eliminate your debt and usually keep whatever you have in a retirement account, free and clear. Many individuals drain their retirement accounts in a futile attempt to pay down credit card debt.

    4. THE TRANSFER PROPERTY OUT OF YOUR NAME MISTAKE: A bankruptcy trustee can undo a transfer of property that previously belonged to you. This can occur if the transfer was made within four years of the filing of the bankruptcy with the intent to hinder, delay or defraud a creditor, or simply if a fair price was not received.

    5. THE LINE OF CREDIT/SECOND MORTGAGE TO PAY DEBT MISTAKE: Don't take a loan against your real estate in an effort to reduce the equity. You can often file bankruptcy and not lose this valuable asset. If you take out a second mortgage to pay credit card debt, you may be putting your house at risk.


    6. THE FAILURE TO APPEAR AT COURT PROCEEDINGS MISTAKE: Do not assume that you can avoid a lawsuit simply because you've decided to file bankruptcy. A collection case continues until your bankruptcy case is actually filed, which occurs only after all the fees are paid, you have met with us and provided all the necessary information for preparing the 40 pages of bankruptcy forms, you have reviewed, signed, and returned the forms to us for filing with the Bankruptcy Court, and you have completed the required debt counseling program (by telephone or Internet) which we coordinate for you.

    7. THE FAILURE TO TELL YOUR ATTORNEY THE TRUTH, THE WHOLE TRUTH AND NOTHING BUT THE TRUTH MISTAKE: An attorney can only provide advice based upon information provided by the client. Failure to notify your attorney about your assets can lead to the loss of those assets, denial of your bankruptcy case, fines, imprisonment, or all of the above.


    About the Author: Jed Berliner has been an attorney since 1976. He began focusing almost exclusively in bankruptcy law in 1982 to make sure his clients could obtain cost-effective bankruptcy advice and services of the highest quality. Mr. Berliner has served as the Chair of the Hampden County Bankruptcy Bench-Bar Committee and studied at Cornell University and the University of Kansas.

    http://www.chs-law.com/2008/04/seven...to-filing.html



  5. #5
    Lucy Anderson
    Guest

    Default Big Decision/bankruptcy


    That is totally immoral and dishonest. That attorney needs to go the way of all bad attorneys.

    On Tue, Jul 1, 2008 at 11:19 AM, purplebunnyfoofoo <purplebunnyfoofoo@yahoo.com> wrote:








    I did &#39;it&#39; over 10 years ago and my attorneys first bit of advice was take the credit cards and finishing maxing them out with groceries, lots of dry goods, paper products, can goods ect.....then toiletries, and finally clothes. We did and some items lasted a year.



    *~*Teresa Lavey*~*



    [/quote]
    --
    http://www..com

    Matthew 22:37 - Love the Lord your God with all
    John 13:34 - Love one another
    Matthew 28:19 - Go and make disciples



  6. #6
    Allison Planthaber
    Guest

    Default Big Decision/bankruptcy




    you're right. but some people don't think of the consequences of their scams...






    --- On Wed, 7/2/08, angies_groups wrote:

    From: angies_groups
    Subject: RE: Budget101.com : Re:Big Decision/bankruptcy
    To: Budget101_@yahoogroups.com
    Date: Wednesday, July 2, 2008, 8:20 AM


    <DIV id="yiv1632562700">




    <DIV class="Section1">
    Teresa,

    I doubt your lawyer would want you to tell people about that because he has counseled you to commit credit card fraud. I dont recommend that anyone do anything like that just prior to filing. Im not sure why you think that ripping off the credit card companies (buying things you know you are never going to pay for) is okay. This is part of the reason that fees are so high. And is that really the lessons we want our children to learn?





    From: Budget101_@yahoogro ups.com [mailto: Budget101_@yahoogro ups.com ] On Behalf Of purplebunnyfoofoo
    Sent: Tuesday, July 01, 2008 2:20 PM
    To: Budget101_@yahoogro ups.com
    Subject: Budget101.com : Re:Big Decision/bankruptcy


    <DIV id="ygrp-msg">



    I did 'it' over 10 years ago and my attorneys first bit of advice was take the credit cards and finishing maxing them out with groceries, lots of dry goods, paper products, can goods ect.....then toiletries, and finally clothes. We did and some items lasted a year.

    *~*Teresa Lavey*~*






  7. #7
    Ellen
    Guest

    Default Big Decision/bankruptcy


    I hate to burst your bubble but you are both wrong. Yes the laws

    changed in 2005 to reduce the amount of abuse being found in the

    system. I work for a bankruptcy attorney and only in a chapt 13 do you

    pay on secured creditors. You dont pay anyone in a chapter 7 unless it

    deemed by the trustee as an asset case. Then you must had over your tax

    refunds and stimulas checks to be parted out among the creditors.

    Bankruptcy is a tough decision to make, however, it is your legal right

    and remedy. Dont listen to what is on the boards, get a consult with an

    attorney and find out exactly what your situation calls for. Each case

    is unique and requires the right attention in order for it to be

    successfully completed



    Regards, Ellen












  8. #8
    jacqueline osgood
    Guest

    Default Big Decision/bankruptcy


    Before you go to an attourney go to consumer credit counciling. Save your respectability and your peace of mind. They charge nothing. They will help you get back on track. It won't be easy or done overnight. You only want to go bankrupt as an absolute last resort.
    --- On Wed, 7/2/08, Ellen <sweetelle_99@yahoo.com> wrote:

    From: Ellen <sweetelle_99@yahoo.com>
    Subject: Budget101.com : Re:Big Decision/bankruptcy
    To: Budget101_@yahoogroups.com
    Date: Wednesday, July 2, 2008, 6:08 PM


    <DIV id="yiv1550151076">



    I hate to burst your bubble but you are both wrong. Yes the laws
    changed in 2005 to reduce the amount of abuse being found in the
    system. I work for a bankruptcy attorney and only in a chapt 13 do you
    pay on secured creditors. You dont pay anyone in a chapter 7 unless it
    deemed by the trustee as an asset case. Then you must had over your tax
    refunds and stimulas checks to be parted out among the creditors.
    Bankruptcy is a tough decision to make, however, it is your legal right
    and remedy. Dont listen to what is on the boards, get a consult with an
    attorney and find out exactly what your situation calls for. Each case
    is unique and requires the right attention in order for it to be
    successfully completed

    Regards, Ellen






  9. #9
    J Diane Northcutt
    Guest

    Default Big Decision/bankruptcy



    I hate to burst your bubble but you are partly wrong also. When we went to bankruptcy court not one person ahead of us( and there were several) had to fork over their Tax refunds or stimulus checks. They were still considered no asset inspite of the refunds/rebates. We got to keep our tax refund also (370 dollars)

    [quote]












  10. #10
    melinda irvin
    Guest

    Default Big Decision/bankruptcy


    Here is an alternative if you don't own anything of great value. They cannot

    take what you don't have. My exhusband ran up huge bills in both our names he

    was ordered to pay but did not. When the collectors came after me I reminded

    them there is no debor's prision in America and I had nothing. After 7 years

    your debt is wiped clean or if it is sold to another comapny it is actually gone

    because you can contest the fact you never did business with the other company.

    Not many people know this and get scared and pay them anyway. I have a lawyer in

    KY who told me that all my debt except my student loans can be wiped away doing

    that. It is 100% legal too, but you need a lawyer to do it. Right now my debts

    are over 20 years old and are uncollectable, just waiting to save money up to

    get them off my credit report.



    --- On Wed, 7/2/08, J Diane Northcutt <jdnorthcutt@ftc-i.net> wrote:



    From: J Diane Northcutt <jdnorthcutt@ftc-i.net>



    We just filed bankruptcy this past February. I can assure you that the

    bankruptcy laws have changed in the last 10 years. You cannot go out and run the

    cards up just before filing.






  11. #11
    J Diane Northcutt
    Guest

    Default Big Decision/bankruptcy


    It is not that easy. You can't just stop paying. That might have worked

    several years ago but not anymore. First of all the credit card companies

    will hound you. Each credit card company will call 20 or more times per day.

    I am not exaggerating. On Sunday they only call about 8 times.

    They also can come after you legally and make you pay through a court

    order. The only way to avoid paying is to file bankruptcy. Then the court

    either sets up a ( chapter_13) payment plan or gives you a ( chapter 7)

    total discharge.



    Diane

    ----- Original Message -----

    From: "melinda irvin" <moon_goddess129@yahoo.com>

    To: <Budget101_@yahoogroups.com>

    Sent: Thursday, July 03, 2008 1:06 AM

    Subject: Re: Budget101.com : Re:Big Decision/bankruptcy





    > Here is an alternative if you don't own anything of great value.

    >

    > ------------------------------------

    >

    >

    >

    > *~*~*~*~*~*~*Free Money Play Banko!~*~*~*~*~*~*

    >

    > http://budget101..com/

    >

    > *~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

    >

    >

    > To View the List Archives Please Visit http://www.budget101.com

    >

    >

    > Yahoo! Groups Links

    >

    >

    >

    >








  12. #12
    Stephenie Noyes
    Guest

    Default Big Decision/bankruptcy


    I had credit card companies start taking me to Court, that and the harrassing

    calls helped me with the decision to file.

    Not paying and ignoring everything just doesnt work now days. The credit card

    companies have gotten much more aggressive. I tried using CCCS and they REALLY

    messed things up worse. They dont tell you that not all your creditors go into

    an agreement with you, which is what happened to me, so I was making a monthly

    payment to CCCS for my TOTAL amount of debt and still getting calls and interest

    accumulating for those creditors that didnt agree to the payment plan. Plus,

    what CCCS did made my credit report worse. Bankruptcy was the best option for

    me.

    I thought we would have to live like paupers but we dont. Mind you, we arent

    living like kings, but I was able to keep my tax refund and stimulus check,

    since my attorney figured it into my income up front.



    ----- Original Message ----

    From: J Diane Northcutt <jdnorthcutt@ftc-i.net>

    To: Budget101_@yahoogroups.com

    Sent: Thursday, July 3, 2008 6:50:51 AM

    Subject: Re: Budget101.com : Re:Big Decision/bankruptcy



    It is not that easy. You can't just stop paying. That might have worked

    several years ago but not anymore. First of all the credit card companies

    will hound you. Each credit card company will call 20 or more times per day.

    I am not exaggerating. On Sunday they only call about 8 times.

    They also can come after you legally and make you pay through a court

    order. The only way to avoid paying is to file bankruptcy. Then the court

    either sets up a ( chapter_13) payment plan or gives you a ( chapter 7)

    total discharge.



    Diane

    ----- Original Message -----

    From: "melinda irvin" <moon_goddess129@yahoo.com>

    To: <Budget101_@yahoogroups.com>

    Sent: Thursday, July 03, 2008 1:06 AM

    Subject: Re: Budget101.com : Re:Big Decision/bankruptcy





    > Here is an alternative if you don't own anything of great value.

    >

    > ------------------------------------



    <snip>


















  13. #13
    ro so
    Guest

    Default Big Decision/bankruptcy




    Another thing is that in most states there are statutes of limitations. In Iowa, a credit card cannot sue you if it has been a minimum of 5 years from the date of the last transaction. I was also told from CCC that since it has been longer then 5 years on both of our credit cards that it would be better for us to wait the extra 2 years (this was last year) instead of fliing bankruptcy or going through them.





    Becky






  14. #14
    Lori Morgan
    Guest

    Default Big Decision/bankruptcy


    We got to keep ours too, and they were significant, but they came

    after the Bankruptcy had completely gone through. Our attorney and our

    lawyer thought they might be taken as well, so it might just depend on

    the state and circumstances.



    Lori



    --- In Budget101_@yahoogroups.com, "J Diane Northcutt"

    <jdnorthcutt@...> wrote:

    >

    > I hate to burst your bubble but you are partly wrong also. When we

    went to bankruptcy court not one person ahead of us( and there were

    several) had to fork over their Tax refunds or stimulus checks. They

    were still considered no asset inspite of the refunds/rebates. We got

    to keep our tax refund also (370 dollars)

    >










  15. #15
    melinda irvin
    Guest

    Default Big Decision/bankruptcy


    I beg to differ. First it is illegal for bill collectors to call on Sunday or

    before 9am or after 8pm or it is harassment. Second, get caller ID and don't

    answer the phone or have it unlisted. I really had no choice in the matter at

    the time because my ex left me penniless and sky high in debt. I would have paid

    it if possible, but I could not. Unlike a lot of people I don't own a home home,

    I live in a RV. I really don't have anything of great monetary value that anyone

    would want because it would be more costly to the credit card company to go

    through the motions compared to what they would get out of it. Also, my new

    husband has income so I don't work outside the home and like I said before,

    there are no debtor prisions in America and after 7 years or if the debt is

    charged off and sold to another company, it is cancelled. It is not a good thing

    to do, but I have never filed bankruptcy and never been harassed long by credit

    card companies either. If

    you can just pull up stakes and go on a moment's notice like I can it is easy

    to just not pay in an emergency, but I don't want everyone to do it because it

    is a last resort survival measure only. I got rid of $40,000 worth of debt this

    way and sometimes the companies that bought my debt call me and I laugh and hang

    up. They can't take what you don't have. OK what more can they do except call

    and harass you ? NOTHING! Unless they know where you work, then you switch jobs.

    Get a cell and give the number to NO ONE! It is possible to "disappear" without

    going anywhere, I know because I have done it even when I rented a apartment. If

    it were me, I would stop paying, not answer their calls and continue on with

    life. After awhile they do give up. Bankruptcy is forever, don't do it.





    --- On Thu, 7/3/08, J Diane Northcutt <jdnorthcutt@ftc-i.net> wrote:



    > From: J Diane Northcutt <jdnorthcutt@ftc-i.net>



    > It is not that easy. You can't just stop paying. That

    > might have worked






 

 
Page 1 of 2 1 2 LastLast

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •