BofA HELOC (was Countrywide at time)

[discouraged]

In June of 2004 I co-signed a loan for a motorcycle for my son. In October 2004 he was burned over 70% of his body and was in the hospital until February 2005. (I’m leaving out a lot because it is way too long).

While he was in the hospital, I was getting billed for the motorcycle and eventually took out a HELOC to pay it off. Call it stress, whatever, I did it, rather than have it repossessed. (I know I should have just given it up.) And no, like an idiot we did not take out the insurance to have it paid off if anything happened.

Fast forward to 2010. All this time the motorcycle has been in a pole barn and not being used, so I quit paying insurance on it. I did keep paying the HELOC. He has now gotten to the point with therapy where the motorcycle can be modified and he could use it. It is still uninsured and will continue to be so until he can ride it. And yes, it is a miracle he has come this far.

Do I need to explain the lack of insurance and the way I paid for the bike? I will be bringing this up to my lawyer but wanted your input. My son started making payments for the HELOC beginning August 2009. I’ve had him stop since June, when I quit paying for everything.

If anyone wants/needs more info I’ll give it but I’ll warn you, it’s a long story.

[tcreegan]

Hi discouraged,

I am glad your son is recovering, as a parent I know how hard it is when your kid is hurting, but I can't possibly imagine burns over 70% of his body, my heart goes out to you.

The motorcycle is out of the picture as far as the BK is concerned. The insurance will only be a problem when you go to re-register it with the state/county (whoever does motor vehicle stuff in your state) Each state is different, some require a certificate of non-use, some don't care at all, some want the vehicle taxes no matter what. Hopefully your state is in the 'doesn't care' category!

The HELOC goes into the BK, what you spent the $$ on is old enough to not make a difference.

Good luck w/ your BK and congratulations on your sons recovery!

Tom in Colo

[discouraged]

Thanks, Tom. I just talked to Vehicle registration and there are a few hoops we have to go through but nothing that can't be done. It was a very tough time and it has taken a lot of therapy to get him to this point. Thankfully they were wise enough to form his hands around bars so he would be able to use them to eat. There is still a lot he can't do but his legs were about the only thing that wasn't burned so he is able to walk. He can use his hands for some things - he can type, eat and with modification, drive a car & handle the gears on the bike.

He was/is the hospital's 'miracle burn patient'.

[Pandora]

discouraged

My heart goes out to your family and your son. I'm glad he's recovering and has such an outlook for the future ahead. The body may break but the spirit cannot be broken if you have the will to overcome the obstacle set before you.

Wishing you and yours all the best ahead...

[discouraged]

Thank you Pandora. My son amazes me and this whole expereince has made us all treasure each moment we have together. It's hard for him as he was very good looking and the way he looks now scares some people, which is sad, but he has grown strong spiritually through all this. He shouldn't have survived but he did and each day we consider a blessing.

[tobee43]

discouraged my best to you and your son. glad to hear he's doing better. your story really breaks my heart....it reminds us all to remember what REALLY is important.

i wish you the best and will have him in my thoughts.

[discouraged]

Thank you Tobee. Yes, before all this we took our health for granted. It seems strange, but when something like this happens, it makes the rest seem like a walk in the park. All I have to do is talk to him and recognize each day for the miracle it is.

Sometimes, when people stare at him or look at him like he's a monster - his entire upper body and face were drastically burned, not something you can hide- I just cringe for him. Does give me a lot of compasision for any handicapped person though and I make sure I look them in the eyes and smile. Beause that is what I wish for my son.

[tobee43]

i so wish you the very best. i'm sure the future hold wondrous things for you and your son.

don't worry about the stares....just keep the hugs comin and he'll be fine....

[mijd]

HI Discouraged, I too hope all goes well with your Bk. The best to you and your son. I had 3 degree on my right hand but I could never come close to imagine what your son has gone through. He is truely a courageous and brave person!

[discouraged]

Thanks Mijd - Yes he is. His burns were 1st degree on 50% and 2nd degree on 25%. Technically he should not have made it. Everyone was amazed that he did and still does. His kidneys went into failure a few times, because of all the medication they had to give him. The Dr's wanted to give up because they never, ever thought he would survive but I made them do dialysis and said, "You broke him, you fix him." It worked and he survived.

His quality of life isn't the greatest and I sometimes wondered if I did the right thing (he was really into body building at the time) but he seems to appreciate being alive and often thanks me for standing up for him. He still has to take a lot of pain pills but, sometimes, when we talk, he seems so grateful to be alive.

He's trying to write a book about the experience now. I'm not pushing him but even if it doesn't get published it will still be a charthasis (sp) to his further healing.

[discouraged]

Just got an email from my lawyer - maybe I should check into a different one??? He said he doesn't see a problem with my not paying for the insurance and how I paid for the bike - jsut don't transfer it into my son's name only.

Oh well, guess I did/do want an unemotional all business attorney. What a guy!

[tobee43]

Just got an email from my lawyer - maybe I should check into a different one??? He said he doesn't see a problem with my not paying for the insurance and how I paid for the bike - jsut don't transfer it into my son's name only.

Oh well, guess I did/do want an unemotional all business attorney. What a guy!

well, that's good news...one less thing to worry about.

ahhhhh....many of these bk atty's are the same...my was really cute and sweet...and would say...i'm so sorry you both are having such a bad time of it...but he wouldn't give me a job!!!

[discouraged]

I LOVE that Tobee!!! You made me laugh. This is precisely what I say to the creditors who happen to catch me on the phone - I ask them, Is there work where you are because I can't find any here. Shuts them up for some reason. Haven't asked my attorney for a job though - it IS a thought, LOL.

[tobee43]

I LOVE that Tobee!!! You made me laugh. This is precisely what I say to the creditors who happen to catch me on the phone - I ask them, Is there work where you are because I can't find any here. Shuts them up for some reason. Haven't asked my attorney for a job though - it IS a thought, LOL.

hahaha....i just couldn't believe they didn't hire me??? LOL!!!! actually the office got wiped out while were doing our filing...all NEW people!! i'm thinking tho...would i really want to work for an atty who shows up at 341's with his zipper completely down????...(which he did)....LOL!!!!

[tcreegan]

Hi again discouraged,

Just got an email from my lawyer - maybe I should check into a different one??? He said he doesn't see a problem with my not paying for the insurance and how I paid for the bike - jsut don't transfer it into my son's name only.

Your lawyer sounds OK, for the BK the insurance and payment on the bike should make no difference. Transfers right before a BK are generally a no-no

Hang in there, I hope your son writes that book!

Tom in Colo