Hi Everyone,
I'm new to this board and just learning about BK. I am reading about trustees and what they are looking for and the possibility of fraud and wanted to find out what some of you think.
6 months ago our roof needed replacing, I already had 20k in debt and was over my head but took a second job to try and start paying it back. We've been only able to pay our bills through cash advances and shuffling funds around and we probably racked up another 10k between the roof which was 5k and another 1k each month trying to shuffle, so now we are 30k in debt on cc's alone. Two years ago, I went back to school which I am finishing up in December with the goal of getting a better job to help us get out of our debt and now with graduation right around the corner, jobs are no where to be found. So I'll have a BA in Business Administration, another 25k in school loans, and I'm stuck at a decent job that just doesn't pay enough with no prospects anywhere near here. I have 2 school age children and we want to stay in our house.
We are now getting hit with reductions on our credit limits and my time is running out. The plan on shuffling until I could get another job is not working out and I am almost, but not quite, maxed on my cards. If I stop using my cc's for the next 90 days and then file, will the trustee say I put the roof on and got into more debt thinking I would go bankrupt? I've been using our cc's regularly over the past 6 months, nothing luxury, just to pay other cards, my mortgage once, which is $1200, and stuff like groceries, gas, and so forth. I'm concerned because we started running into trouble 6 months ago, hence the second job, and really started using the cards at that point because I thought I would eventually make enough to cover it all and now the market has collapsed and I see no way out. I am so scared they'll say it was fraudelant but am hoping you'll say it's old enough that they won't. The other thing I hope is in my favor is that when I got the roof, I got 5 estimates, and because I keep everything, I can prove I didn't buy the top of the line and if I were planning on going BK wouldn't I have just bought the best ? I would be about 9 months away from that big purchase but have regularly used my cc since then.
I'm just scared because we've had alot of expenses this past year, just living, nothing special that have caused us to rack up these bills, a new toilet, our dishwasher died, we needed a pool pump, and am so afraid they'll see I racked up a third of our debt in the past year and claim I did it on purpose. We don't have fancy cars, we don't have jewelery, we don't have new furniture, but I'm still scared. I don't think I can hold off filing much longer though and just want to find out your opinions.
Thank you!
I'm new to this board and just learning about BK. I am reading about trustees and what they are looking for and the possibility of fraud and wanted to find out what some of you think.
6 months ago our roof needed replacing, I already had 20k in debt and was over my head but took a second job to try and start paying it back. We've been only able to pay our bills through cash advances and shuffling funds around and we probably racked up another 10k between the roof which was 5k and another 1k each month trying to shuffle, so now we are 30k in debt on cc's alone. Two years ago, I went back to school which I am finishing up in December with the goal of getting a better job to help us get out of our debt and now with graduation right around the corner, jobs are no where to be found. So I'll have a BA in Business Administration, another 25k in school loans, and I'm stuck at a decent job that just doesn't pay enough with no prospects anywhere near here. I have 2 school age children and we want to stay in our house.
We are now getting hit with reductions on our credit limits and my time is running out. The plan on shuffling until I could get another job is not working out and I am almost, but not quite, maxed on my cards. If I stop using my cc's for the next 90 days and then file, will the trustee say I put the roof on and got into more debt thinking I would go bankrupt? I've been using our cc's regularly over the past 6 months, nothing luxury, just to pay other cards, my mortgage once, which is $1200, and stuff like groceries, gas, and so forth. I'm concerned because we started running into trouble 6 months ago, hence the second job, and really started using the cards at that point because I thought I would eventually make enough to cover it all and now the market has collapsed and I see no way out. I am so scared they'll say it was fraudelant but am hoping you'll say it's old enough that they won't. The other thing I hope is in my favor is that when I got the roof, I got 5 estimates, and because I keep everything, I can prove I didn't buy the top of the line and if I were planning on going BK wouldn't I have just bought the best ? I would be about 9 months away from that big purchase but have regularly used my cc since then.
I'm just scared because we've had alot of expenses this past year, just living, nothing special that have caused us to rack up these bills, a new toilet, our dishwasher died, we needed a pool pump, and am so afraid they'll see I racked up a third of our debt in the past year and claim I did it on purpose. We don't have fancy cars, we don't have jewelery, we don't have new furniture, but I'm still scared. I don't think I can hold off filing much longer though and just want to find out your opinions.
Thank you!
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