Paid spouses credit cards with my balance transfer offers

[OHBOY]

I have been doing an awful lot of bankruptcy related reading lately...unfortunally as I read on not all becomes crystal clear, but rather 'murky' with more and more questions popping up all over.

Please allow me to explain:
My debts are all credit card related. The majority was accumulated through repeated 'bailouts' of my spouses credit cards.

Spouses cards balances, (ALL through cash advances used for gambling) had close to 30% interest rates on them, and it seemed to make a lot of sense to lower the interest rates by putting the balances on my cards... as I have ALWAYS had good credit with low rates.

Unfortunally, in retrospect, I was too trusting (stupid) and by doing this, it just cleaned up the spousal individual cards, but allowed the pattern of addiction to continue...over and over, over several years....

The 'house of cards' kinda began to collapse when large unexpected bills came up, PLUS : most recently my credit cards raised the minimum from 2 to 5 % ( 150 % increase), and though my credit cards only carried between a 1.99% and 3.99% ( !!!) FIXED RATES for the length of the loans....(NEVER was late, NEVER skipped a payment !!!)

That all did not help much, especially when to top it off, these fixed rates where being changed to adjustable rates close to 30%, with one card (RBS) not even offering an 'opt out'....

Soooo, now I am (still) looking for a good bk attorney to file with. I'll be filing alone, without my spouse.

Anyhow... I read that possibly the trustee could go after those balance transfers (???) and try to get them back ?... Sure would not help the overall situation one bit around here as my spouse has loaded up cards and credit on that side would be totally shot thereafter too...

Also wondering how to answer the question about 'gambling losses' on the bk forms...? there sure were losses do to gambling, and yes, they sure turned out to be my losses, BUT, than again, I am not the one that did the gambling...

Any and all comment and input would be much appreciated.

[AngelinaCatHub]

Soooo, now I am (still) looking for a good bk attorney to file with. I'll be filing alone, without my spouse.

Am I to assume that DW has caused a split? What a shame. However, there are two sides. She does need help, but you were in "enabler".

If it is possible to pick up on the marriage that is your first priority. The cards will wait, and the longer the better. Get yourself to your lawyer soon but hold off if you can to file. Money above infidelity is the number one reason for divorce. 'Hub

[LimpDisc]

How long ago was the last balance transfer? If you can list the transfer amounts and dates it would be helpful.

[OHBOY]

We are not getting a divorce, I still (after all ...) believe in hope. Also, both of us are elderly, and will definately 'stick it out to the end'... but, yes... you are right about the 'enabler' part.

As to the last balance transfer: it was in April of this year, and the total was for right around $ 10,000. Overall amount of credit card debt is right around $ 48,000

[OHBOY]

Sorry, I probably also should explain as to why spouse is not filing:

1. has filed for bk ca. 7yrs ago. (also due to gambling)
2. has recently taken out cash advances
3. wants to ( and financially can..) do repayment on outstanding cc debt... about $ 9500...( 'fortunally' IS maxed out and can not take any more advances or transfers)

[AngelinaCatHub]

Sorry, I probably also should explain as to why spouse is not filing:

1. has filed for bk ca. 7yrs ago. (also due to gambling)
2. has recently taken out cash advances
3. wants to ( and financially can..) do repayment on outstanding cc debt... about $ 9500...( 'fortunally' IS maxed out and can not take any more advances or transfers)

Your best bet for a 'new start', is to break her (and you) from this habit. As you well know, the house always wins. Isn't it time for you to win in the game of life by not having "easy winnings/money" ruining your 'peace of mind'. Just my opinion. 'Hub

[OHBOY]

Your best bet for a 'new start', is to break her (and you) from this habit. As you well know, the house always wins. Isn't it time for you to win in the game of life by not having "easy winnings/money" ruining your 'peace of mind'. Just my opinion. 'Hub

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Totally agree on your comments, THANKS ! however in the meantime, while I am worried stiff about what to anticipate in bk, I am still wondering if it is a likely scenario that the trustee could go after those balance transfers (???) and try to get them back ?...

Also wondering how to answer the question about 'gambling losses' on the bk forms...? there sure were losses do to gambling, and yes, they sure turned out to be my losses, BUT, than again, I am not the one that did the gambling...so, I am wondering how to correctly answer that question ? ...anybody has any clue ?

[Chowder]

If the BT is from one card to another, it is nothing for you to be concerned about.

[AngelinaCatHub]

Your best bet for a 'new start', is to break her (and you) from this habit. As you well know, the house always wins. Isn't it time for you to win in the game of life by not having "easy winnings/money" ruining your 'peace of mind'. Just my opinion. 'Hub

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Totally agree on your comments, THANKS ! however in the meantime, while I am worried stiff about what to anticipate in bk, I am still wondering if it is a likely scenario that the trustee could go after those balance transfers (???) and try to get them back ?...

Also wondering how to answer the question about 'gambling losses' on the bk forms...? there sure were losses do to gambling, and yes, they sure turned out to be my losses, BUT, than again, I am not the one that did the gambling...so, I am wondering how to correctly answer that question ? ...anybody has any clue ?

About the balance transfers, time is your friend, if you can make it 90 days or more from the last transfer.

There have been many gambling debt questions here. Do a search on this. It seems it has never been a big deal.

I have been a lottery winner for years. I win a dollar every time I don't buy a ticket. LOL. 'Hub

[shabam]

I think you are worried about the wrong party. I would be more concerned with a creditor filing an AP against you. The creditor you transferred the balances from could even file an AP.

It all depends on the details. How many payments have you made to these cards? On average, how long ago did you make any large transfers? Were you solvent at the time of the transfer? That is what you need to be concerned with. Creditors are not limited by the 90 day rule.

[Flamingo]

Thoroughly research gambling and filing. Ii believe filing for gambling debts will bring up issues with your filing and the trustee. With the large amounts of the transfers, you may be asked to explain what they were for. Many people are asked to explain any transfers of funds, deposits or withdrawals of funds into or out of accounts for six months or more prior to filing. We had to provide information for one year for amounts over $1,000 (credit cards included) and none of our debts were gambling related.

Your best bet would be to consult with a BK attorney and thoroughly go over this. On top of this, you have a spouse with credit cards remaxed out after you paid them off. Not only did you enable him/her, you wrecked your credit and have to file BK to bail out still leaving him/her with maxed cards. If your spouse cannot stop the gambling, what is he/she going to tap next since you will have no credit cards? Time for counseling for both of you. Many seniors find themselves in the gambling trap and can end up losing everything and having to eventually get bailed out by children or relatives by having to go live with them or for them to provide money. Happened with our best friend's mother who lost all household savings at the racino and had to be taken care of by her children cause it was gone. The children have taken over all control of her finances to keep her out of the racino so she doesn't take her SS check and go directly there.

[OHBOY]

It all depends on the details. How many payments have you made to these cards? On average, how long ago did you make any large transfers? Were you solvent at the time of the transfer? That is what you need to be concerned with. Creditors are not limited by the 90 day rule.

There were periodic ongoing large transfers, more like a frequent shifting of monies...from here to there, and reverse, along with IRA withdrawels...any documention should be a lot of 'fun'...

At the time this last transfer was made I considered myself 'solvent' and believed that I/we could still claw our way out of a mess by sticking together by handling the finances in a disciplined & responsible way.

I have made 4 payments on this last transfer before I stopped making payments. When I found out that my spouse had gone again to the casino and won a large 'chunk' which had dissapeared in a heart beat, I gave up....

The fact that this larger 'winning' will increase our taxburden dramaticall by taxing our Social Security was the final straw that put me into insolvency (along with all of the other prior listed reasons).

Can't wait to find a good attorney..., but are having problems finding a good one. Had put down a retainer ($100) with one, but changed my mind about him after reading on this board....

Anyhow, did have an appt. with an attorney couple of days ago, not all that far from where I live, however he told me that I am 'out of district'/over county line, and that he wished he could, but does not cover my area...( what?...he was in the 'Middle' of FL, where I need to file & practically 'down the road' from my place).

Now I made an appt. with another attorney, who promised to send a folder via e mail...but, has NOT. Called him back, he could not find my email address... gave it again, promised to send it...nada...

Called another one, sounded good, former trustee, left my name and phone number on voice mail... did not call back....now I am wondering, what's up with this..... will do more calling today in hopes to 'catch' one of those 'wiz kids' that handles bankruptcies...

Will let you know what happens as things progress.
It's good being able to communicate with others that are in a similar 'boat'... Thanks

[whipster1]

You should wait about a year. If all your income is from SS they cannot take it. If you bank with anyone you have cards with get another bank account now. Change your phone number.

[AngelinaCatHub]

There were periodic ongoing large transfers, more like a frequent shifting of monies...from here to there, and reverse, along with IRA withdrawels...any documention should be a lot of 'fun'...

At the time this last transfer was made I considered myself 'solvent' and believed that I/we could still claw our way out of a mess by sticking together by handling the finances in a disciplined & responsible way.

I have made 4 payments on this last transfer before I stopped making payments. When I found out that my spouse had gone again to the casino and won a large 'chunk' which had dissapeared in a heart beat, I gave up.... She has a very serious malady. It may be time to talk to a doctor and perhaps a Judge. You need to get her full P.O.A. and control of her. I understand casino's have a banned members list (I've never use one) perhaps you can get her banned. Cut off those credit cards even if you have to hit her purse and shred the cards. I perceive a sickness here that you will have to work hard to fix. Refuse to let her drive her car to keep her home and if it is meant to be, she will understand you are doing it for your marriage.

The fact that this larger 'winning' will increase our taxburden dramaticall by taxing our Social Security was the final straw that put me into insolvency (along with all of the other prior listed reasons). Well didn't she lose the winnings back to the house? I'm not sure how the taxes go but that is a double whammy.

Can't wait to find a good attorney..., but are having problems finding a good one. Had put down a retainer ($100) with one, but changed my mind about him after reading on this board....

Anyhow, did have an appt. with an attorney couple of days ago, not all that far from where I live, however he told me that I am 'out of district'/over county line, and that he wished he could, but does not cover my area...( what?...he was in the 'Middle' of FL, where I need to file & practically 'down the road' from my place). Sounds phony. the middle district covers all the way down to Tampa.

Now I made an appt. with another attorney, who promised to send a folder via e mail...but, has NOT. Called him back, he could not find my email address... gave it again, promised to send it...nada... Don't use him either. If he is this incompetent now, think of when you give him more money.

Called another one, sounded good, former trustee, left my name and phone number on voice mail... did not call back....now I am wondering, what's up with this..... will do more calling today in hopes to 'catch' one of those 'wiz kids' that handles bankruptcies... Don't call, get an appointment. A lawyer who is/was a Trustee is a good mix.

Will let you know what happens as things progress.
It's good being able to communicate with others that are in a similar 'boat'... Thanks

I agree. For us too. I feel blessed not to have such a compulsion as what you must face. We have never smoked, Mrs. or I. I do too many beers though when I am working on my house. I consider it's hot, or it's past noon. LOL. 'Hub

[OHBOY]

You should wait about a year. If all your income is from SS they cannot take it. If you bank with anyone you have cards with get another bank account now. Change your phone number.

Thanks. Yes, all income is protected, SS, pension & IRA.

Don't know if I can wait a year without being sued...?..will see.. wished creditors clearly understand that both, spouse and I are 'collection proof'/can't get blood out of a 'turn-up'.

The phone sure is ringing off the 'hook'.., but it does not get answered..have 2 cell phones & changed cc account phone numbers so that all just come in to the one phone that normally does not get many phone calls.

Just got an appt. this morning with the former trustee bk attorney for the middle of November (hurrah ! ), and even so I am only filing both are requested to be there, sounds good to me.

As to restricting spouses movements... nope, does not work here...presently there definate improvement, as no $ equals the same as 'house arrest'...

Spouse quit smoking on a 'cold turkey' basis some time ago after smoking 3 packs + per day...this after being scared 'to death' following a health emergency episode... I am hoping that THIS emergency ( financial disaster..) will be the 'scared straight' motivator to overcome the gambling addiction.

I believe that there is reason to pray and have hope... you may think I am a 'sucker for punishment' however, there is (maybe unbelievable so) a strong bond between us, a long part of life that I am not willing to give up...