We obtained a BOA consolidation (or whatever you wanted to use the funds for per their literature) loan back in June of about $16,500. BOA deposited the funds into our savings and the payments were to start 3 months later (it was a promotional 3 month deferment thing). I had started - not to long after those funds were deposited to get a wierd vibe at my job and thought I might be in jeopardy of losing my job, so I decided to keep the money in savings in case my intuition was right.
Unfortunately, my intuition was right and I was fired in mid August. I have since been collecting unemployment and scouring the job sections every day (I was a legal secretary) but after several interviews, have had no luck (and this is with three great references from the former attorneys I worked with at the job) the office manager had a problem with me for whatever reason, not the attorneys, but even he is giving me a decent reference and telling anyone who calls that I decided to take some time off for personal reasons.
Okay, sorry to get off track. So fast forward to November when the $362/month BOA consolidation loan payments come due. We have had to use the loan money to subsidize unemployment because with all our bills, unemployment just wasn't enough. I kept telling myself, when I get a job we can play catch up and then in February I'll get about $6,000 (before taxes and penalty) of my 401(k) money from my last job and I could pay some of the BOA loan money bank, etc., etc. But I still haven't gotten a job and don't know if I will anytime soon so have very recently (within the last few weeks) have seriously started to think about filing BK.
At the time we got this loan in June, I had every intention of consolidating other bills and not having to use it to live off of but after losing my job and then I guess being in denial for several months thinking it would all turn around once I got this new higher paying job, it would all work out, my question (finally) is how does this look if/when we go to file bankruptcy. It has been 6 months since we received the funds from the loan but have only been paying on it since November (and all our bills are current we're not behind on anything in part because of using these loan proceeds).
Will someone - do you think try to call fraud at BOA even though I lost my job? I know anyone's answer will be pure speculation until and if I talk to an attorney, but I was hoping someone with a similar situation could give me their insight.
Thanks again for everyone's help!
Unfortunately, my intuition was right and I was fired in mid August. I have since been collecting unemployment and scouring the job sections every day (I was a legal secretary) but after several interviews, have had no luck (and this is with three great references from the former attorneys I worked with at the job) the office manager had a problem with me for whatever reason, not the attorneys, but even he is giving me a decent reference and telling anyone who calls that I decided to take some time off for personal reasons.
Okay, sorry to get off track. So fast forward to November when the $362/month BOA consolidation loan payments come due. We have had to use the loan money to subsidize unemployment because with all our bills, unemployment just wasn't enough. I kept telling myself, when I get a job we can play catch up and then in February I'll get about $6,000 (before taxes and penalty) of my 401(k) money from my last job and I could pay some of the BOA loan money bank, etc., etc. But I still haven't gotten a job and don't know if I will anytime soon so have very recently (within the last few weeks) have seriously started to think about filing BK.
At the time we got this loan in June, I had every intention of consolidating other bills and not having to use it to live off of but after losing my job and then I guess being in denial for several months thinking it would all turn around once I got this new higher paying job, it would all work out, my question (finally) is how does this look if/when we go to file bankruptcy. It has been 6 months since we received the funds from the loan but have only been paying on it since November (and all our bills are current we're not behind on anything in part because of using these loan proceeds).
Will someone - do you think try to call fraud at BOA even though I lost my job? I know anyone's answer will be pure speculation until and if I talk to an attorney, but I was hoping someone with a similar situation could give me their insight.
Thanks again for everyone's help!
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