Large Deposit Before Filing

[fltoo]

"It's not what we have in our lives, but who we have in our lives and the quality of those relationships."


Very well said.

[AngelinaCatHub]

Poor Krispy Kritter:

Ever hear of “Oh what tangled webs we weave……….”? Here is a solution. Everyone has an opinion like bellybuttons. How much did you say you owe? I lost that in this thread if you said it. Why not ask DAD for a small favor? Ask him for a loan, no interest, to “clean up miscellaneous bills”. If he accepts this at face value, maybe you won’t have to tell him why. Otherwise COME CLEAN. That being said: Pay off everyone, cut up the cards and start paying DAD back. Then you won’t have to BK.

I have two daughters and an adopted 41 year old “daughter”. There was only one unforgivable sin they could do with me. That was tell me a lie. It ALWAYS rises to the surface. If he loans you enough to get out of debt, you could easily pay him back in microscopic payments of one payment per month as long as you don’t screw up with more credit cards. Just my opinion. ‘Hub

[Help!]

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[Flamingo]

Help....sometimes it pays to read the postings made after the OP's initial posting. Most of your questionss have been answered.

[krispy12]

I talked with the bankruptcy lawyer I saw previously. He said I'd have to wait 2 years & to talk to the creditors calling me. Don't ignore court hearings if I have to go. He sees this as fraudulent activity & he says it's really up to the trustee if he believes my story. I wish I had magical powers to befriend this trustee at this moment!

Anyways, I will have to wait at least 2 years. Maybe more. It's really up to those creditors attorneys or something if they want to keep digging into my past.

I am pretty devastated at this. I can wait of course but my hopes of filing this year are over.

Obviously I'm not able to make those minimum payments on my cc, but does anyone know if paying even like $20 to each of those cards help delay them sending me off to the collecting agencies?

Anyone have any Texas bankruptcy law websites that explain this whole nonpayment to credit card companies better?

[Flamingo]

I talked with the bankruptcy lawyer I saw previously. He said I'd have to wait 2 years & to talk to the creditors calling me. Don't ignore court hearings if I have to go. He sees this as fraudulent activity & he says it's really up to the trustee if he believes my story. I wish I had magical powers to befriend this trustee at this moment!

Anyways, I will have to wait at least 2 years. Maybe more. It's really up to those creditors attorneys or something if they want to keep digging into my past.

I am pretty devastated at this. I can wait of course but my hopes of filing this year are over.

Obviously I'm not able to make those minimum payments on my cc, but does anyone know if paying even like $20 to each of those cards help delay them sending me off to the collecting agencies?

Anyone have any Texas bankruptcy law websites that explain this whole nonpayment to credit card companies better?

I think what your attorney may mean by "talk to the creditors" is see if you can work something out with them as to some sort of debt negotiation or settlement. Two years is a long time. If you can work something out with them, just be careful as to any debt forgivness because if any portion of your debt is forgiven, you can receive a 1099 for the year in which the debt is forgiven and it would need to be claimed as income on your tax returns for that year. It's up to you what you want to do at this point. But lessons come hard in life for all of us and it is a shame you didn't get some advice before signing those papers.

[fltoo]

What is done is done.

If you plan to tell your dad and he can help you, all is fine.
But, if you absolutely cannot bear to tell him, I would not do anything to screw him.

Waiting out the two years is not the end of the world. Stop paying credit cards, do not make minimum payments, and answer the phone when the creditors call. It keeps them at bay and stops them from calling relatives.
Remind them each time that they have your correct phone number and address.

I have been telling the creditors for almost two years that I am filing a chapter 7 in a "few months."

Your wages in TX cannot be garnished. You will be informed if there is going to be a judgment and when that happens, cancel your bank accounts and pay necessary bills by money order.

According to one of the attorneys I had a consultation with, two years almost guarantees that there will not be a problem. Of course, nothing is guaranteed.

When you file, all judgements will be dismissed.

This is assuming that you have no other assets and are judgment proof.

The most important thing I had to overcome was the stress. Once you calm down and accept what you have to do, you will be okay. You also need to live a normal life as if nothing was going on. Believe it or not, this can be done.

Once you resign yourself to the two year wait, be proactive and plan, plan, plan. Sleep well at night knowing your plan is going to work.

I am even thinking about not filing BK since the creditors are now offering great settlements on the accounts. Time will tell.

Good luck to you.

[fltoo]

Hate to go off topic, but, how long was it that you didn't pay BOA. We need a thread on real life settlements.

[epiphany]

I talked with the bankruptcy lawyer I saw previously. He said I'd have to wait 2 years & to talk to the creditors calling me.

I'm sorry to hear that Krispy. Good luck to you.

ep

[fltoo]

Thank you so much. Been trying to absorb all the info here and missed that thread.

[krispy12]

There is no way I'm telling my dad. Now my mom, maybe.... but this is not about her, I just cannot tell my dad.

Not to mention, he wouldn't be able to help me. 100K is alot of money but he has stuff he has to take care of & debts he has to pay too.

Ok, how I become judgement proof? Because I keep reading that. If I'm not judgement proof what am I?

Honestly if they all offer me like $0.10 on the dollar or whatever that's crazy ridiculous, I might just take it & not file but I doubt all 6 credit card companies will do that.

Should I tell all of them I'm about to file? Of should I delay things a bit by paying thme like $40 each if I can scrounge something up?

You guys are so awesome. You don't know how much this means to me, I don't really have anyone else to talk to. Thanks everyone.

[fltoo]

How much is the total debt and what is your salary?

Do you own anything of value? car, house, etc.

Trying to see if BK is your only option.

The positive here is that you live in a state that forbids garnishment. That is half the battle.

[AngelinaCat]

Krispy Kritter: (Sorry, 'Hub's moniker seems appropriate): Without going backward through now 4 pages of posts to get the details, you have to either determine what is exemptible in your state, and get whatever else is in your name, OUT of your name.

Now, we have been going all over this matter about your Dad's CD. From all that I can see with my eyes, there really is no way to shield that before the two year wait period. In fact, if you have possibly signed onto anything, i.e. bank account, whatever else you can possibly imagine, you are going to have to wait two years.

Please do us all--and you--a huge favor by going to nolopress.com and purchase their Ch7 book. Both their online version and print versions are priced at about half the price of the local bookstore. If you get the online version, you can use it immediately. It comes in PDF format--and is downloaded almost instantaneously—ALWAYS take the freebie that is offered. It is useful as well.

After you read that, you will have a far better idea of what to do.

Good luck to you.

[AngelinaCatHub]

Ms. Krispy Kritter: I cannot tell you anymore than what I would do. I am 64, and not great health, and on paper WAS a multimillionaire. When “comfortable” we gave it all away, and then other things happened. So, we all make mistakes young or old.

PLEASE, come clean with Dad. If you do not, eventually, it WILL surface. If you are in this much fear of your Dad, you have far deeper problems than can be handled here on this forum. If you explain this to Mom, Dad will surely find out .

Your Dad loves you unconditionally, I assume and pray. I know that not everyone has the type of life that many of us have.

However, if you advise Mom that you wish to tell Dad about this, ask how you should handle this, she may help you a lot. I cannot say more for you, but if you were my daughter, you could do no wrong. (except lie to me) ‘Hub

[fltoo]

LOL, the drama.

Hey, when I was younger, I would not tell my dad either and trust me, I have no deep problems.

This is no big deal krisp, just wait out the two years, and unless you have something of great value and/or money in the bank, you are judgment proof.

I asked about your salary and debts only to see if you could possibly pay them off.

There is nothing wrong with your relationship with your dad, I understand fully.