Ok, I just got from the attorney office...check this out...

[seamoonil]

I went see an attorney today in Tacoma WA;

So, I gave this below to him to explain a little bit of my situation:

I believe I have about $40000-$50000 in credit card debt.(Not include my car loan, and some private students and federal students loans)

Credit cards: citi(2k), Boa(7k), usbank(11k), discorver(6k), macy's($700), target($400), chase(2k), wamu($500), USAA(8k). GE($800)

I am paying around 1k min. payment never miss a payment(but in Feb 2010 I stoped paying citi, BoA, USbank, wamu and chase.

my income: $11000 per year.

I make thru the month with a part time job and student loans.(but now cc rates are getting out of my controll) It is killling me, eating my soul and I start to have stomach pains.

Few months ago I found out more about misrepresentation. I have always put the $70,000 year income. Honestly, I really thought, that the information they have requested in the credit card application about income couldn't be serious. Because I didn't believe that they would give money away like that, with no proof of income. So that's why I really thought that misrepresentation wasn't that serious. Reading some cnn and bk forum website, I discovered that I was wrong.

wamu, I havent use for over 3 months, boa for over 3 months, usbank nothing more than $10 a month for the last 4 months, chase for over 2 months, target for over 2 months, citi for over 2 months, discover I increased my balance 3k in the last 2 months and hollidays, macys use on hollidays and few weeks ago; usaa I am using for food, gas, clothing, pharmacy and I use the USAA CARD dailly... I do have my car insurance with usaa($110) also.

I do have a car and I pay $280 per month that I would like to keep it($15000 left to pay it, and the loan is from Qualstar Credit Union).
(I think because of my income they wouldn't let me keep my car, so I was worndering if I should buy a cheap vespa scooter before filling.)

My personal bank is local columbia state bank. none of those big banks.

I am on a apartment lease, but I don't pay the rent(I helped my girlfriend during the 2008-2010 until she got her master's and teaching certificate. Now she is helping to get out of this situation. We are both in the lease($800)

I am the only one in our cell phone(her line is under my name) and the cable/internet bill and it has been taken from my checking account(However, she is giving me cash for it(cable/internet and cell bill) $300 a month; she dosen't know that I have been thinking about talking to a Attorney about my situation, so I am saving the cash that she is giving me for any surprising situation.)

We are both on the electric bill(however she is paying for it).

I pay for my food and she pays for her food and some times vice-versa.

So, After he finish we disuss my situation and he said I don't have to worry about nothing, because I have no assets and that's nothing they can do to against me.

It sounded to good to be truth; he said even if I wanna keep the car the is no problem. I was like ok...

I asked him when should I stop paying my minimun payments and he said "yesterday".

He gave me a lot of free consultation about 1h and 30 minutes.

I asked him about my ex-wife situation because she was in the army years ago, and before we got divorce she let me become a member of USAA. So we got divorce and the membership I could keep even after divorced. But was curious about it, because I have 7-8k on my USSA credit card. Even that has been always only on my name; but she still a member of usaa; I am scared that my usaa debt could go after her(and she is now happy remarried and she is expecting baby, that made me feel like crap and so guity.
He said he cannot deal with that type of answers because, he is focusing on me; and that my ex-wife situation is part of this process

what do you guys think?

[dscurlock]

Your income is only $11,000 a year? You are a prime example on why this
country is in the toliet credit wise...

The credit industry may not have been so bad if banks actually
did income verification checks with real income, and not the
inflated income of a consumers pen...good/excellent credit does not
mean you make a high income, it just means you are paying
your bills, and with no income checks, and good credit, you
just get more and more credit until you cant repay anylonger...

If banks actually gave credit somewhat based on actual income,
then the credit industry overall would be much better off...

Your debt with an income of $11k/yr salary only supports this...

If creditors did real income checks, then you would have had
no where near the debt that you have compiled...

[seamoonil]

agree 100%

[keepmine]

You really need to start thinking about your personal privacy.
Hopefully a moderator will delete the lawyers name and, that stupid admission that that you did lie about your income on credit applications.
You just left a trail of breadcrumbs to your front door . Hopefully, no employee that deals with bk's from the firms you mentioned is bookmarking this thread and just waiting for a petition filed by this lawyer.
I'd imagine the lawyer won't be too happy with his name broadcast all over the net that is connected to case where there is an admission of furnishing false info on a credit app.

[justbroke]

The Trustee is going to be very interested in hearing how you ran up $50K in debt on $11K in income. However, the Trustee may not even care. I mean, it's really like that. While they may be interested, they probably won't do anything about it since you really have no income (you're below the poverty line, everywhere).

Also, I would refrain from using attorney, judges, Trustees or anyone else's real name on the Forum.

[seamoonil]

The Trustee is going to be very interested in hearing how you ran up $50K in debt on $11K in income. However, the Trustee may not even care. I mean, it's really like that. While they may be interested, they probably won't do anything about it since you really have no income (you're below the poverty line, everywhere).

Also, I would refrain from using attorney, judges, Trustees or anyone else's real name on the Forum.

ok, I will refrain from using their names !!!!!

I am sorry !!!

[dscurlock]

The Trustee is going to be very interested in hearing how you ran up $50K in debt on $11K in income. However, the Trustee may not even care. I mean, it's really like that. While they may be interested, they probably won't do anything about it since you really have no income (you're below the poverty line, everywhere).

Also, I would refrain from using attorney, judges, Trustees or anyone else's real name on the Forum.

If he did not go after all these credit cards, he probably could
have gotten way with a home morgt..only with $11k/yr...
actually not..the morgt actually does look at your income, so
inflating his income there would have done no good...

[justbroke]

If he did not go after all these credit cards, he probably could have gotten way with a home morgt..only with $11k/yr...
actually not..the morgt actually does look at your income, so inflating his income there would have done no good...

Have you ever heard of a "No Documentation, No Income Verification" mortgage? There were probably at least 5,000,000 mortgages written that way from 2003-2007!

[dscurlock]

Have you ever heard of a "No Documentation, No Income Verification" mortgage? There were probably at least 5,000,000 mortgages written that way from 2003-2007!

4,999,999 are in forclosure because of the inflated rates
because of the no verification checks... ;)

[LadyInTheRed]

Your income is only $11,000 a year? You are a prime example on why this
country is in the toliet credit wise...

The credit industry may not have been so bad if banks actually
did income verification checks with real income, and not the
inflated income of a consumers pen...good/excellent credit does not
mean you make a high income, it just means you are paying
your bills, and with no income checks, and good credit, you
just get more and more credit until you cant repay anylonger...

If banks actually gave credit somewhat based on actual income,
then the credit industry overall would be much better off...

Your debt with an income of $11k/yr salary only supports this...

If creditors did real income checks, then you would have had
no where near the debt that you have compiled...

Yeah, it's crazy. I'm about to file BK and still have $100,000 in available credit on my credit cards. I went into my new bank the other day to change the type of savings account I have and the woman pulled up my account on the computer and gave me "good news." I am pre-approved for a line of credit as overdraft protection for my checking account. "No thanks, I'll use my savings account for that". "You are also preapproved for a credit card with a low interest rate." "No thanks, I have enough credit." "Are you sure?" In a more irritated tone, "yes, I am sure, I don't need or want any more credit."

Here I am, unable to pay my current credit cards and they are trying to push more credit down my throat. And some people say that filing bankruptcy is immoral?! They deserve every last discharged debt they get!

[dscurlock]

Yeah, it's crazy. I'm about to file BK and still have $100,000 in available credit on my credit cards. I went into my new bank the other day to change the type of savings account I have and the woman pulled up my account on the computer and gave me "good news." I am pre-approved for a line of credit as overdraft protection for my checking account. "No thanks, I'll use my savings account for that". "You are also preapproved for a credit card with a low interest rate." "No thanks, I have enough credit." "Are you sure?" In a more irritated tone, "yes, I am sure, I don't need or want any more credit."

Here I am, unable to pay my current credit cards and they are trying to push more credit down my throat. And some people say that filing bankruptcy is immoral?! They deserve every last discharged debt they get!

a few years ago, I would have been the one to take what-ever
card that I could get...Ive been there, done that...it is not fun
having to report to 10-20 credit cards each month with ontime
payments...(if you can afford it) I have done away with most
of my past cards..its not thrilling anymore to be in debt to
10-20 credit cards, not at all...now I have a couple smaller
credit limits, I still have a card or two I am thinking about
closing the doors on...I closed one two months ago...it
actually felt good to tell them no for a change....

[SMinGA]

If your debts w/ USAA are yours and not joint with your Ex-then filing bankruptcy would have no impact on her.

But I would suggest you find insurance thru someone else. Speaking from personal experience, abouy 5-6 months after I defaulted on a USAA credit card they refused to renew my auto & home insurance policy.

[Universal]

Here I am, unable to pay my current credit cards and they are trying to push more credit down my throat. And some people say that filing bankruptcy is immoral?! They deserve every last discharged debt they get!

I figure each credit card debt should be wholly discharged as we've paid for each purchased item multiple times over already.

[BCA2009]

The only advice I will give is to stop living off of student loans. It seems like easy money now, but you will be paying on these the rest of your life and can't discharge them (unless you get a very good job).

[Mensa1]

Yeah, it's crazy. I'm about to file BK and still have $100,000 in available credit on my credit cards. I went into my new bank the other day to change the type of savings account I have and the woman pulled up my account on the computer and gave me "good news." I am pre-approved for a line of credit ...

Yes, it is crazy. I went down with about 150K of available credit on cc's... All my debt was business related and never late or defaulted on any personal debt, and didn't owe one cent personally... not that it matters really.

Prolly the reality is I should have utilized the 150K over some calculated drunken spending spree and prolonged the process... nah, would have just further complicated matters. But to the point, these cc issuers are getting what they have coming to them; PIRAHNA's, every one of them, IMO.