including cc issued from bank my spouse works for=PANICKING!

[TXFowlerfan]

I have been lurking here for a few weeks and just now have the nerve to register and get some feedback from ya'll...Here's the scoop...

Texas resident (if the "ya'll" didn't tip you off...lol)
I was laid off in Sept 08 from mortgage job- so not much luck in finding anything and am still on unemployment which runs out next month...We have about 90K in cc debt & 50K in auto loans...other than this we only have a mortgage we should be able to keep because we have no equity...
My spouse still has job and we can afford the mortgage and utilities on that, barely...so if we file, we may have to include both cars and all the cc debt to just get by...will borrow car from family in the meantime...

the panic stems from the fact that we owe about 50K on a cc to the bank my spouse works for...So will he get fired????? We also did cash advances on this card of about 10K in June 08 and charged alot of money on eating out, buying clothes, a laptop and other things that we hadn't been able to do for a long time (WHOLE OTHER STORY). The advances were for home repairs that needed to be done, but ended up putting about 5k in back in the bank that helped pay bills when I unexpectedly got laid off in Sept 08...We are worried the bank will Object at the 341 and cause all sorts of problems....Anyone have any experience with either the employment part or the high spending within a year of filing? We are looking to file in May or June...HELP!

[Flamingo]

Yes there could be an issue as to the bank at which your hubby works and his filing BK and including accounts from that bank. Review your hubby's employee handbook, company policies and his employment contract if he has one. See if there is any clause indicating that if he files bankruptcy, he has to notify the company or any similar verbiage. Note that your hubby cannot be fired just for filing bankruptcy unless he does not comply with anything in his employment contract or employee handbook as to filing bankruptcy. He can also sit down with the HR manager if he wants to discuss this if it is bothering him - it is all confidential and cannot be used against him, or he can do nothing and hope it just goes through and no one finds out if there is nothing in the above documents I mention.

[Logan]

I have been lurking here for a few weeks and just now have the nerve to register and get some feedback from ya'll...Here's the scoop...

Texas resident (if the "ya'll" didn't tip you off...lol)
I was laid off in Sept 08 from mortgage job- so not much luck in finding anything and am still on unemployment which runs out next month...We have about 90K in cc debt & 50K in auto loans...other than this we only have a mortgage we should be able to keep because we have no equity...
My spouse still has job and we can afford the mortgage and utilities on that, barely...so if we file, we may have to include both cars and all the cc debt to just get by...will borrow car from family in the meantime...

the panic stems from the fact that we owe about 50K on a cc to the bank my spouse works for...So will he get fired????? We also did cash advances on this card of about 10K in June 08 and charged alot of money on eating out, buying clothes, a laptop and other things that we hadn't been able to do for a long time (WHOLE OTHER STORY). The advances were for home repairs that needed to be done, but ended up putting about 5k in back in the bank that helped pay bills when I unexpectedly got laid off in Sept 08...We are worried the bank will Object at the 341 and cause all sorts of problems....Anyone have any experience with either the employment part or the high spending within a year of filing? We are looking to file in May or June...HELP!

It's a good thing Obama passed a stimulus bill extending unemployment benefits.

[NoMoreRed]

We had to include a car loan and CC in our BK from the credit union that my wife worked for. Legally they cannot terminate someone for filing bankruptcy, but may make life at work for him miserable. Once the credit union was notified of our filing they pulled all access for my wife and made all aspects of her work day miserable including sending her to other branches to work which were 60 miles away from our home. She started looking for another job right away and was hired by Wells Fargo for a considerable increase in pay.

We had originally reaffirmed our car loan with the CU and after the way they treated my wife we rescinded it and filed 722 redemption instead which was approved. They not only lost a great employee, but also lost another $16,000 dollars because of the motion for redemption.

[dingdong]

Banks Suck!

The more I read about banks and the crap they pull, the more I am thinking of bankng with:

Bank of My Mattress

Bank of the Sock Drawer


I was thinking of using Bank of the Cookie Jar, ( but I heard they are crummy!)

But seriously, jeeze, I know its a business, and I understand that but they ( banks) are so self rightous until they need a helping hand and then they get it ( bailouts) and they still are heartless SOBs.

Whatever happened to compassion and a little understanding?

[lrprn]

Whatever happened to compassion and a little understanding?

Remember the movie "It's a Wonderful Life" with Jimmy Stewart and Donna Reed? It's the difference between Mr. Potter and the Bailey Savings and Loan. Bailey was rich in friendships and Mr Potter was rich in cash. Banks love cash, not friendships. And that movie was made back in 1946. Sadly nothing has changed since then.

[willbfree]

Coming from being one of the favored bank/credit card customers to now being considered a "deadbeat" I agree that the manner in which we have been treated defines how we use these companies in the future. We had already decided to live "off the credit grid" post bankruptcy. I will never own another credit card. We checked and our credit union has a prepaid VISA card for up to $5K that we can load. That will do in order to pay for hotels, rental cards etc that require a cc to use but we have no intention of ever allowing ourselves to be in this mess again. Never again!

[dingdong]

I love that movie.


Ding ding, ding ding! ( that's a bell ringing, BTW)

We need to start a Bank o' the BK'd. Lke a credit union, only the only members allowed to join are people who have filed BK recently. At least we know nobody could sting the bank for 8 years!


After the 8 years is up, we do a credit check, and if you have not started living past your means, we let you stay.

If you haven't learned your lesson, out you go! But, of course with a boo boo prize of a free tote bag and a clock radio.

[imoverit]

to the OP,I can't help with the large spending thing, but I just left a rather large national bank. I have quite a few friends there and I know of at least 3 personal friends that have filed or are very behind on their mortgage (mortgage with the employer bank) and not the regional, HR, or anyone has even contacted them about anything. The bill collectors even call work to talk to them about paying and they obviously answer the phone with the banks name. Its like 1 hand doesn't talk to other. Of course every bank is different, but the big banks I have worked for follow HR policies to the letter, so if its illegal, chances are they won't do anything.

[TXFowlerfan]

thank you so much for the feedback...i keep hoping that reading all of this information will put my mind at ease, but i don't think that will actually happen until I see the blessed word "discharged"....