Need Guidance pls !

[Gunderson]

Just looking for direction and advice from you ppl out there which have experienced the process, Here's my situation.

- I had a rental property which foreclosed about 7 months ago.

- I haven't paid my home owners association fee for several years, the association won a judgment against me . total of 19k

- I earn about 80k a year.

- I've been moving my money into my girl friend's account every month for the past several months totaling to over 70k(not under my name)....and only have 3k in my account.( fearing that they might garnish from my acct)

- I live at home with my parents so I have no expenses.

- I've defaulted on 3 credit cards, all balances are w/collection agencies now.balance 8k total

- I purchased a car but I haven’t paid the car payment in about 4 months. balance 10k

I've spoken to a lawyer and got the impression that I need the following.

-3 months of bank statements , Im worried because I really have no expenses so the only thing my acct reflects is large amount of checks written to someone else’s account.

-He also mentioned that its ideal to have a vehicle , but my car has been unoperational so I haven’t been paying my car payment for a few months now.

I know my scenario might sound a bit careless but I had a valid reason for all my actions. Hoping out there someone out there with experience can scan thru my situation and give me good advice. Thank you guys

[scorpion35]

Just looking for direction and advice from you ppl out there which have experienced the process, Here's my situation.

- I had a rental property which foreclosed about 7 months ago.

- I haven't paid my home owners association fee for several years, the association won a judgment against me . total of 19k

- I earn about 80k a year.

- I've been moving my money into my girl friend's account every month for the past several months totaling to over 70k(not under my name)....and only have 3k in my account.( fearing that they might garnish from my acct)

THIS ALONE WILL GET U IN A LOT OF TROUBLE IF U FILE.BIG NO NO

- I live at home with my parents so I have no expenses.

- I've defaulted on 3 credit cards, all balances are w/collection agencies now.balance 8k total

- I purchased a car but I haven’t paid the car payment in about 4 months. balance 10k

I've spoken to a lawyer and got the impression that I need the following.

-3 months of bank statements , Im worried because I really have no expenses so the only thing my acct reflects is large amount of checks written to someone else’s account.

-He also mentioned that its ideal to have a vehicle , but my car has been unoperational so I haven’t been paying my car payment for a few months now.

I know my scenario might sound a bit careless but I had a valid reason for all my actions. Hoping out there someone out there with experience can scan thru my situation and give me good advice. Thank you guys

sounds like u don't qualify for chapter 7(no expenses and making 80K /year)

[LadyInTheRed]

The transfers to your girl friend must be disclosed in your bankruptcy petition. The trustee will want that money.

It sounds like you have $37,000 in debt and $70,000 sitting in your girlfriend's account. Why not just pay the debt and be done with it? Is there a large deficiency after the foreclosure on the rental property? If not and $37k is all of your debt, you don't need to file bankruptcy. Based on the info you have provided, in a Chap 13 you will wind up paying 100% of the debt anyway.

[blockhead]

"I had a rental property which foreclosed about 7 months ago"

How much are you liable for on that (if anything)

[Majakat]

i agree with the poster above, why not paid the debt if you have 70k sitting there, or was that a typo and it is 7k?

I would give back the car, you havent paid on -

pay the 19k

pay the 8k

and be free - heck i wish i were in that situation -

[SMinGA]

So you make $80k per year, have no major expenses, $73k in cash assets.
Owe $19k judgement, $8k credit cards, and $10k for your car.

$73k would settle your debts pretty easily. Could probably do so for $18-25k and you'd still have ~$50k cash.

Not sure why you're here in a bankruptcy forum, as it seems you easily have the ability to pay your debts. Bankruptcy is for those who cannot, not for those who have the ability and choose not to pay.

[Majakat]

Lol, I think that posted must be a joker just trying to make us all feel jealous wanting that we were in his horrible situation -

Why would an atty even suggest any form of BK with all the cash sitting around?

[newbie2]

Lol, I think that posted must be a joker just trying to make us all feel jealous wanting that we were in his horrible situation -

Why would an atty even suggest any form of BK with all the cash sitting around?

I doubt he told his attorney about the 70K moved to his girlfriends account. Hence, his worry about giving his attorney the last 3 months of bank statements.

Heck, I'd be worried also that the girlfriend may just up and leave and take that 70K with her :-)

[helpmeout]

I doubt he told his attorney about the 70K moved to his girlfriends account. Hence, his worry about giving his attorney the last 3 months of bank statements.

Heck, I'd be worried also that the girlfriend may just up and leave and take that 70K with her :-)

That's what I was thinking. And there's nothing he can legally do about it since he was the one who put the money there.