Now that I am reading - I am worried

[Iamnowbroke]

I am afraid I will not qualify for the chap. 7 that my attorney said.

My personal income is only 25K a year - my county median for my family (me and daugther) is 56K. BUT, I know I have to include any other money that was contributed to home.

here is the thing...my boyfriend has given me a LOT of money in the past 6 months (like $8000 a month)...he never expects it back, I just tell him I am short on the bills and he deposits money in my account. I know this will be viewed as income, but it is actually NOT my income...it is money that he gave me to cover my bills...BUT he will not bail me out of the 50K plus plus - in CC debt.

What if I don't qualify...will they ask me where all the extra money came from? I am totally freaked out now because I have been recieveing some threatening letters from CA.

[magyar123]

From now on don't accept any money from him, but let him pay what you paid with the money ($8000) he gave you. Then file six months from now to be able to show that for six months you did not have any huge deposits in your bank account.
If the trustee wants to see more than 6 months worth of bank statements you might run into some trouble filing.

[jribe]

wait...is it 8k a month, or 8k total over the last 6 months?

What most people do is just wait out the six months until their income drops back below the median income level. Just keep figuring out your calculation each month, and find out when you can file... You should be okay. It's all a numbers game.

I am afraid I will not qualify for the chap. 7 that my attorney said.

My personal income is only 25K a year - my county median for my family (me and daugther) is 56K. BUT, I know I have to include any other money that was contributed to home.

here is the thing...my boyfriend has given me a LOT of money in the past 6 months (like $8000 a month)...he never expects it back, I just tell him I am short on the bills and he deposits money in my account. I know this will be viewed as income, but it is actually NOT my income...it is money that he gave me to cover my bills...BUT he will not bail me out of the 50K plus plus - in CC debt.

What if I don't qualify...will they ask me where all the extra money came from? I am totally freaked out now because I have been recieveing some threatening letters from CA.

[AngelinaCatHub]

OK. You have due cause. BF perhaps should just have taken care of things in cash and not put it into record. Now understand, I am not promoting fraud, but BF could just disappear, as there is no legal contract (marriage).

You must consider waiting and let those chips fall. BF has done you no favors within the bk realm. Let it go for six months. Look poor on your own, and get past bk then get BF to marry you. 'Hub

[BKOnce]

$8K...Money laundering or lottery deposit?

[Iamnowbroke]

$8K...Money laundering or lottery deposit?

HA HA - That is funny - neither...but I wish it was one of them.

No, my sweety has a very rich mother, who likes to throw cash out..nice right? Well at the time, I never even thought I would have to file for BK...so getting the money from him was a nice jesture...but he is a responsible guy and after a few months of this he started to question why...when he found out I was in trouble, he stopped. So for the month of Jan, 09...my deposits went down to WAAAAYYY under the median.

I know if I wait until april and file...the 6 months income would be really low (I make crap a month) I am just afraid I will get a judgement in that time as I have not paid CC since Dec. 08.

I am just really scared because I am really in trouble and my boyfriend is just that, a boyfriend, no promise of marriage anytime in the future so I need to make sure I can care for my daughter alone, should he suddenly find a younger, thinner girlfriend

I guess I will wait and see for a few months...should be able to have attorney paid by end of March...Maybe that will help...I am scared, that is all

[liz417]

HA HA - That is funny - neither...but I wish it was one of them.

No, my sweety has a very rich mother, who likes to throw cash out..nice right? Well at the time, I never even thought I would have to file for BK...so getting the money from him was a nice jesture...but he is a responsible guy and after a few months of this he started to question why...when he found out I was in trouble, he stopped. So for the month of Jan, 09...my deposits went down to WAAAAYYY under the median.

I know if I wait until april and file...the 6 months income would be really low (I make crap a month) I am just afraid I will get a judgement in that time as I have not paid CC since Dec. 08.

I am just really scared because I am really in trouble and my boyfriend is just that, a boyfriend, no promise of marriage anytime in the future so I need to make sure I can care for my daughter alone, should he suddenly find a younger, thinner girlfriend

I guess I will wait and see for a few months...should be able to have attorney paid by end of March...Maybe that will help...I am scared, that is all

You need to plan your BK right, so don't make any decisons based on emotions. Wait the 6 months to reflect your income correctly and file. You don't want to get pushed into a ch 13 because of those large deposits.
You'll be fine, hang in there.

[Iamnowbroke]

So waiting the six months won't cause creditors to get judgements and take money out of my bank account?

You all think I will be OK waiting to file until July?

[liz417]

So waiting the six months won't cause creditors to get judgements and take money out of my bank account?

You all think I will be OK waiting to file until July?

You know, every creditor is different. I have read where some posters have waited a couple of years before they got sued...so it all depends. The best thing you can do is just wait...wait until July or *if* you get served, then just file for BK, you can't do much after that. I've read that creditors will dig around to see if you have anything worth sueing for (i.e. home, good paying job, etc.). Hang in there

EDIT: I think you will be OK

[Iamnowbroke]

WOW - thanks Liz...It is nice to have someone actually trying to HELP you for a change....so many people are out to screw you these days!!!

OK - I wait until July and file...it will be a struggle but I am sure if I put my faith into God....all will turn out the way it should

[catleg]

You probably need to think of a better way for your sweetie to support you without depositing the money in the bank. The 22A Bankruptcy form is very clear about amounts paid by another person to support you and your dependents as being "income". (I think that's baloney, but they didn't ask me).
So it really needs to be invisible. And it needs to look like you can support your regular household expenses on your income otherwise there will be more questions.

[danaf]

Planning is absolutely key. Glad you found this site before you filed because yep - the trustee would consider him giving you $$$ as income. You need to wait until his contributions fall off the six month look-back period....sucks but 8k a month is a hec of a lot more than most people make. Then you can file with no prob. If the trustee questions it.....just say a man I used to date was generous to me or if you are still dating....or the man I date used to be generous with me but then stopped. They can and do look at past bank statements. If he wants to 'help' you out anymore - cash only....money orders only to pay any bills.

[CatsInTrouble]

two things.

1) I also worried about waiting (Nov to March) and getting judgmeents and so far nothing. It takes time for all that to work it's way in the system...

2) $8000 per month = marriage material.

[southernbelle]

Try to wait 6 months before filing. It might be okay to pay just the bare min. like $10 or $15 a month to stall them, but I would double check to make sure. A few bucks a month wouldn't be scrutinized as preferential payments and you could ask your boyfriend to give you cash or money orders instead so that you can save to pay the lawyer.

[freshstartfl]

If a creditor tries to get a judgment against you in the meantime, there are ways you can stall it. Before a garnishment or something like that can happen, you have to be served with papers and the creditor has to appear before a Judge. There are things you can do to delay this process -- first, answer the summons. Second, show up at the court date and plead for more time. In Florida, for example (because I don't know about other states, lol) you can plead that you are exempt from wage garnishment (not including child support, taxes, etc) if you make less than $500 a week and are the primary supporter of a minor child.

So, hang in there, and if anyone tries to obtain a judgment, research the laws in your state and do whatever you can to delay the process.