My wife and I were all ready to file for BK7 protection mostly because it seemed that our number was up and Citi Card AMEX had finally filed a law suit against my wife for a charged off credit card debt of $6700.00. I say my wife because as it turns out we have a total of 3 credit cards that she opened back when a few years ago when we were in denial about our financial house and my wife was charging up here cards that were in her name only and I was at that time unaware of it. We finally came to terms with out situation and quit paying on our 2nd Mortgage with HSBC (108K) and all her cards in January of 2010. The 2nd since has charged off and sits doing nothing because we are so upside down that they have no equity to come after.
So we figure at some point we would have to file just to get rid of the possibility of a deficiency judgement in the future but have held off until we had no choice. Well we thought that time had come but expectantly Moore Law Group (CITICARD) closed our case and returned it to them (Citi). I found this out because I called them and they were actually friendly about it. I asked if they were sure and the lady just repeated to me that they had closed there case and we should receive a letter in the mail soon confirming it. I asked what the reason was but she said she could not give me legal advice but that they just made a determination not to proceed and closed the case and returned the file to Citi ?
I can only guess that they did a forensic audit and figured we were not worth pursuing since my wifes only income was form Social Security Disability and a disability pension, All exempt funds! Plus the debt was in her name only and we only deposit here money into a joint account.
I guess now I am glad my wife didn't tell me about the cards and opened them in her name only ?
So we figure at some point we would have to file just to get rid of the possibility of a deficiency judgement in the future but have held off until we had no choice. Well we thought that time had come but expectantly Moore Law Group (CITICARD) closed our case and returned it to them (Citi). I found this out because I called them and they were actually friendly about it. I asked if they were sure and the lady just repeated to me that they had closed there case and we should receive a letter in the mail soon confirming it. I asked what the reason was but she said she could not give me legal advice but that they just made a determination not to proceed and closed the case and returned the file to Citi ?
I can only guess that they did a forensic audit and figured we were not worth pursuing since my wifes only income was form Social Security Disability and a disability pension, All exempt funds! Plus the debt was in her name only and we only deposit here money into a joint account.
I guess now I am glad my wife didn't tell me about the cards and opened them in her name only ?
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