I was thinking about trying to finance a pool

[Bigkerm]

I was thinking about trying to finance a pool but my wife and I are going to be filing BK in the next 6-12 months. I am afraid I would never get a loan after BK, my credit is still really good at the moment I am not late on anything. My wife has all of our credit card debt in her name and I only have a few thousand in my name. I was not sure if I could buy it and not file BK on it or I am not sure if you could file on a pool loan or not. If anyone out there has put a pool in and financed it or filed BK on it could you please respond with any input.

Thanks,
XXXXXXX a.k.a. Bigkerm

[hereforinfo]

I hope you're not serious.

[BKOnce]

Posting luxury item in a BK forum... is a joke!!?? (Kermit Da Frog?)

[AngelinaCatHub]

BigKerm, why are you filing bankruptcy? You don't need to. You would just fall into the same spending habits again. You are planning a pool, and planning to discharge its costs aren't you? This is known as fraud. This is a major luxury item. Why not put those potential payments into your future, as in 401K, or pay your creditors. They were kind enough to loan you money for "stuff". A pool is "stuff". Your intent is transparent and I don't think you will receive any help here in attempting to defeat the system.

Sorry, this is my opinion. 'Hub

[AngelinaCat]

Aside from any potential 'Presumption of Abuse' issues, installing a pool at your home is not a good idea. You are creating a liability down the road should you wish or need to sell your home. Real estate agents are not happy with properties with in-ground pools because of the maintenance and security (small children in the neighborhood) issues.

Also, homeowners insurance companies--ESPECIALLY in Florida--are becoming more and more hard-nosed about insuring properties with any type of water source on it, be it a pool, lake or river.

To paraphrase a saying about boats: "A pool is a concrete-lined hole in the ground into which you pour money."

[nc73]

Pools are very high maintenance. I had one and it was a nightmare. It's not worth the hassle and the EXPENSE.

[LuciluS]

Thinking about filing Bankruptcy, but want to install a pool first? There is definitely something wrong with this picture.

Let's just say you go ahead and install one and file bankruptcy. I've had 3 swimming pools in my life and they are very high maintenance. A Pool is considered a 'Luxury' item, so even if you filed a chapter 13, you wouldn't have the funds to keep up the pool. A Pool has to be Maintained all year long as I don't believe they even make the old timey concrete pools anymore. They have what is called a liner in them and you must keep water in the pool all year round. You don't want the water getting algae & other sorts of stuff like mossy, etc. And the Chemicals are Not Cheap.

My suggestion to you is if you are serious about filing bankruptcy, buy the NOLO book and read posts on this forum and use the 'Search' button. I'll think you will have a quite different attitude. As AngelinaCat said "it's a concrete-lined hole in the ground into which you pour money into' ALL Year Round (I'll add).

[123ABC]

I have an inground pool in my yard and I can say the while I love it at the same time it is very expensive! I have struggled this summer to be able to afford the chemicals and have had to learn how to open and close it as I can no longer afford the pool service to do those things. In chemicals alone I am spending about $200 per month and I have not had any problems with the pool. If you dont know what you are doing you spend a lot more. In addition since my pool is a social setting for friends and family they have all been kind enough to pick up chemicals for me every now and then. I do not reccomend somebody who is in a situation where they are about to file BK installing a pool! And keep in mind depending on what state you live in you may be maintaining that pool year round. I am in ohio and we close our pools in september! I usually keep it open through mid october but I can not afford to keep it heated this year so labor day weekend will be the last weekend my pool is open.

Also keep in mind regardless of the expense pools are a lifestyle... For somebody like myself who has grown up with a pool and understands in depth pool care I do not find the maintenance to be excessive nor a hassle. I have it down to a science and for me it is no big deal BUT my social life in the summer is also very pool oreintated. I have people over every weekend so my entertainment budget drops to nothing because instead of going out on weekends all my friends and family come over for pool time and we cook out. Also I am single and have no children. I have the time to spend a few hours a couple of times of week cleaning the pool and spend my whole weekend in it- happily! If you are a busy family who is running around to soccer and blah blah blah you will have a green swamp in your backyard. And once it turns green expect to spend at least $150.00 in chemicals to get it back on track.

Not trying to squash your dream but just being realistic...

[Tbornetun]

BigKerm is a pot stirrer. They have only one post and intentionally left that post to get everyone up in arms about installing a pool prior to bankruptcy. I suggest everyone ignores this thread in the future.

[Bigkerm]

BigKerm is a pot stirrer. They have only one post and intentionally left that post to get everyone up in arms about installing a pool prior to bankruptcy. I suggest everyone ignores this thread in the future.

I am not trying to be a pot stirrer, I am in some financial troubles and I am trying to get the most out of my available credit some may see it as very fraudulant and I see their point. I see it as making sure I have as much money set aside under my mattress so I feel comfortable. I can no longer afford to make the monthly payments on the credit cards that are in my wife's name, she has no job currently so she is easily ch. 7 and my attorney says I have no problem going ch. 7 also. I don't understand why everyone doesn't try to make the most out of this situation that we have gotten ourselves in. I know I haven't posted here before but I have been lurking for a while and have learned alot. I guess l will probably only be able to get a loan pre bk and don't claim it on the bk. I know it sounds weird to try to get rid of payments and then just to turn around and add more. You guys are probably right about not trying to add more debt I am just dreaming I guess. Oh well Thanks for all the advice !!!
And for the bashers of this thread you know where to stick it.

Thanks Everyone !!!

Matthew a.k.a. Bigkerm

[Bigkerm]

BigKerm, why are you filing bankruptcy? You don't need to. You would just fall into the same spending habits again. You are planning a pool, and planning to discharge its costs aren't you? This is known as fraud. This is a major luxury item. Why not put those potential payments into your future, as in 401K, or pay your creditors. They were kind enough to loan you money for "stuff". A pool is "stuff". Your intent is transparent and I don't think you will receive any help here in attempting to defeat the system.

Sorry, this is my opinion. 'Hub

Hey Hub,

I appreciate the respose I forgot to say it in the previous post. Again Thanks to all for your support and I will try to stop dreaming about the luxury items and focus on ones that will save me money in the long run.

Than You,
Matthew a.k.a. Bigkerm

[DSIG]

when we bought our home 5 years ago it came with a huge above ground pool. We maintained it for about a year and then it turned into a green swamp. Three years later I was pregnant and recognized that the pool is a child risk so I got quotes on demolition and pool removal. One company quoted 1700 to remove and dispose of the parts. I paid $70 to put an ad in the paper for a free pool -- must have your own removal means. I got so many calls. The first guy that called got the pool. Brought his family and it took them two days to do the entire job. Yes, it was a green swamp but he still took it.

I also want to add that an in-ground pool increases your property taxes (at least in my state). Dont go for the pool. Too much maintenance and too much money...and especially before filing, doesnt look good.

[AngelinaCat]

A friend of ours had a house that she had gotten as part of a divorce settlement. She needed to sell the house because it was too much house for one person, especially as she was out of town a lot. She was a flight attendant.

One of the problems this house had, was a large in-ground concrete pool. A big one. It had settled and cracked with non-use and no upkeep. She would have had to spend major $$$$$$$ to fix the thing and have it brought up to code. This kind of money she did not have.

The alternative was to have it filled in--which also cost major $$$$$$$ as the ornate iron fence would have had to been taken down to allow the dump truck in with the fill dirt.

She ended up selling it as it was, but the house was discounted three different times before it sold. This was about seven years ago now, so had nothing to do with the current economy.

[OhioFiler]

I am not trying to be a pot stirrer, I am in some financial troubles and I am trying to get the most out of my available credit some may see it as very fraudulant and I see their point. I see it as making sure I have as much money set aside under my mattress so I feel comfortable. I can no longer afford to make the monthly payments on the credit cards that are in my wife's name, she has no job currently so she is easily ch. 7 and my attorney says I have no problem going ch. 7 also. I don't understand why everyone doesn't try to make the most out of this situation that we have gotten ourselves in. I know I haven't posted here before but I have been lurking for a while and have learned alot. I guess l will probably only be able to get a loan pre bk and don't claim it on the bk. I know it sounds weird to try to get rid of payments and then just to turn around and add more. You guys are probably right about not trying to add more debt I am just dreaming I guess. Oh well Thanks for all the advice !!!
And for the bashers of this thread you know where to stick it.

Thanks Everyone !!!

Matthew a.k.a. Bigkerm

MAtthew...don't join a forum if your only intent is to cause trouble.

If you purchase that pool now and file BK anytime in the next couple years you'll fail and probably have your case dismissed.

Whatever your intentions or dreams are regarding this pool don't expect anyone here to encourage your attempt to defraud a lender and use the BK process as your vehicle.

BTW, I agree with Hub.

[OhioFiler]

when we bought our home 5 years ago it came with a huge above ground pool. We maintained it for about a year and then it turned into a green swamp. Three years later I was pregnant and recognized that the pool is a child risk so I got quotes on demolition and pool removal. One company quoted 1700 to remove and dispose of the parts. I paid $70 to put an ad in the paper for a free pool -- must have your own removal means. I got so many calls. The first guy that called got the pool. Brought his family and it took them two days to do the entire job. Yes, it was a green swamp but he still took it.

I also want to add that an in-ground pool increases your property taxes (at least in my state). Dont go for the pool. Too much maintenance and too much money...and especially before filing, doesnt look good.

$70 to run an ad!!!! Haven't you heard of craigslist?