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Opinions please...my mom is $40K in debt and 6 years out of a ch 7

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    #1

    Opinions please...my mom is $40K in debt and 6 years out of a ch 7

    My parents filed Ch 7 6 years ago. My stepdad is addicted to shopping. Seriously. He has huge plasma tv's, they each have a laptop plus 2 or 3 desktops, Dvd recorders, all kinds of junk. He bought it all on credit cards.

    Anyway they are now $35-40K in credit card debt again. They only make around $40K per year together.

    They are below the median but they just filed a Ch 7 6 years ago. They contacted a consumer credit finance place and they said they can't help them b/c by the time you budget out everything they actually have no money left over to pay the creditors.

    I told her to go talk to a BK lawyer and she may end up in a CH 13 this time. But with what money? What if she truly has no money to fund a 13?
    4/09 Converted to a Ch 7 due to loss in dh's income
    5/09 UST now involved no idea what happens next
    7/09 UST has decided to withdraw his motion to dismiss!
    7/27/09 DISCHARGED!!!
    Tags: None
    #2
    You also need to tell your parents to get some help and contact Debtor's Anonymous or they are going to become serial filers if they are ever able to get credit again after a second BK. The BK's will never come off their credit reports if they keep this up. It's on there 10 years for a Chapter 7 and 7 years for a Chapter 13 so if they file a Chapter 13 this time, they will have two BK's showing. There are people out there that use BK as a budgeting tool and can't handle money and they make it hard for those folks who really need to file.
    _________________________________________
    Filed 5 Year Chapter 13: April 2002
    Early Buy-Out: April 2006
    Discharge: August 2006
    "A credit card is a snake in your pocket"

    Comment

      #3
      Originally posted by Flamingo View Post
      You also need to tell your parents to get some help and contact Debtor's Anonymous or they are going to become serial filers if they are ever able to get credit again after a second BK. The BK's will never come off their credit reports if they keep this up. It's on there 10 years for a Chapter 7 and 7 years for a Chapter 13 so if they file a Chapter 13 this time, they will have two BK's showing. There are people out there that use BK as a budgeting tool and can't handle money and they make it hard for those folks who really need to file.
      I've tried to tell them believe me! They are spending beyond their means. The problem is it's my step dad that's doing most of the spending then he gets a good job and quits it for a crappy job. I'm about to wash my hands of it.
      4/09 Converted to a Ch 7 due to loss in dh's income
      5/09 UST now involved no idea what happens next
      7/09 UST has decided to withdraw his motion to dismiss!
      7/27/09 DISCHARGED!!!

      Comment

        #4
        Weren't you considering prescription drugs to fight the anxiety in another thread?

        Washing your hands of other peoples CC problems would help quite a bit.

        Comment

          #5
          Originally posted by aces67 View Post
          My parents filed Ch 7 6 years ago. My stepdad is addicted to shopping. Seriously. He has huge plasma tv's, they each have a laptop plus 2 or 3 desktops, Dvd recorders, all kinds of junk. He bought it all on credit cards.

          Anyway they are now $35-40K in credit card debt again. They only make around $40K per year together.

          They are below the median but they just filed a Ch 7 6 years ago. They contacted a consumer credit finance place and they said they can't help them b/c by the time you budget out everything they actually have no money left over to pay the creditors.

          I told her to go talk to a BK lawyer and she may end up in a CH 13 this time. But with what money? What if she truly has no money to fund a 13?

          Is this the guy that spends $500 a month on cigarettes?

          Comment

            #6
            Originally posted by Logan View Post
            Is this the guy that spends $500 a month on cigarettes?
            I'd be walking as fast as I could away from these family members. Seems they're addicted to everything except love!
            Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick

            Comment

              #7
              They won't be able to file a chapter 7 again for at least another 2 years.

              Comment

                #8
                with 6 years out of her discharged 7, they could propose to pay 0% to the unsecured creditors through a Ch13, however this case is going come under "hightened scrutiny" by the court due to the discharge 6 years prior and the amount of the unsecured debt.
                I do not provide legal advice. All I do here is give my two cents as an opinion and at least share some of the facts that I know. Attorneys can provide legal advice, so go ask them or hire one.

                Comment

                  #9
                  Originally posted by Logan View Post
                  Is this the guy that spends $500 a month on cigarettes?
                  That's my FIL that smokes. Each set of parents has their own debt problems though. They are both in denial.
                  4/09 Converted to a Ch 7 due to loss in dh's income
                  5/09 UST now involved no idea what happens next
                  7/09 UST has decided to withdraw his motion to dismiss!
                  7/27/09 DISCHARGED!!!

                  Comment

                    #10
                    Originally posted by aces67 View Post
                    That's my FIL that smokes. Each set of parents has their own debt problems though. They are both in denial.
                    That's good...I hate to see people throw their money away to these cigarette companies.

                    Comment

                      #11
                      Originally posted by Flamingo View Post
                      You also need to tell your parents to get some help and contact Debtor's Anonymous or they are going to become serial filers if they are ever able to get credit again after a second BK. The BK's will never come off their credit reports if they keep this up. It's on there 10 years for a Chapter 7 and 7 years for a Chapter 13 so if they file a Chapter 13 this time, they will have two BK's showing. There are people out there that use BK as a budgeting tool and can't handle money and they make it hard for those folks who really need to file.
                      How do they make it harder for those who need to file.
                      I am kind of wondering how old these people are and why they aren't posting.
                      Chapter 7 07/30/2008
                      341 09/17/2008
                      Discharge 11/21/2008

                      Comment

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