lol has nothing to do with the 'thought' thread

[Graphic]

Ok. no this has nothing to do with the other thread i just like to stir controversy sometimes what can i say.

As for MY car situation. If i sell the car, dont file bankruptcy and put the money toward a car that is in my parents name, but for me and don't file bankruptcy for say 2 years will they look at that? The only issue with me is the car so if I sell it, which I have the legal right to do since it's mine and I haven't filed bankruptcy.. say I wait two years to file do I have to show that I sold that car 2 years ago? Or no

[bkfiler]

Ok. no this has nothing to do with the other thread i just like to stir controversy sometimes what can i say.

i ask what is a car worth. is a car not for navigating less then it is for a summary of life. does life not travel such as that of a car. does one need to travel to experience the joys of life. what is the worth of a car i ask.

[Graphic]

lol. really though? Would it be fraud this really applies to me im thinking about just waiting on filing and going about it that way. Because once the car is gone they can file judgments on me if theyd like thats fine ill just wait til im out of school completely. then file.

[bkfiler]

fraud is not fraud unless you are caught. what is caught...

[StaciMM]

If you are caught planning your BK in an effort to keep assets to yourself, it IS fraud. I don't think anyone here wants to advise you in committing fraud, whether you can get away with it or not.

Why haven't you considered selling the car, and using it to pay the debt? Would save you the attorneys fee of filing BK.

[bkfiler]

what is planning...

[Graphic]

Because it isn't my money to spend.. Then I wouldnt have a car as well.. Plus I owe more than 8k at that so I try not to throw money down the drain if I don't have to. I don't see how that constitutes fraud in my opinion. If I don't file I can sell the car if I want since I am not filing. If later down the road I do file and it's been 3 years they are gonna say well since you owned this 3 years ago that's fraud? Maybe I'll be able to pay my debts in 3 years who knows. Just cause I plan before my bankruptcy doesn't mean I'm committing fraud. If so there would be a lot of fraud cases. People putting money into IRA's etc. Ehh whatever.

[StaciMM]

From your original posts, I believe you owe $10,000-11,000. Most likely, you could settle that for 50-75% of the amount you owe. You have an asset that you could sell and pay your debt. I realize you would be out of a car and the money to buy the car came from your parents-but you were planning to sell it anyhow and spend the money in ways that the BK court wouldn't be able to get it. Losing the car wasn't a huge concern to you last week, nor was the fact that you'd be spending your parent's money.

Regarding what happens down the road, there are 2 scenarios...

You choose not to file now. You sell your car. Down the road, you are in a situation that you decide filing is your only option. NOT FRAUD.

You plan to sell your car, and file in 2 years so that it is far enough behind you to not be an issue. FRAUD.

If you're planning now to hide/transfer assets and wait until it is 'safe' to better your chances that you'll 'get away' with something-that is fraudulent intent. I wish you the best of luck-but believe it or not, there are many people here who have no options and really need help/guidance/information.

[Graphic]

No I understand what you mean. All in all, CC's and the repo'd car (which they sold for less than I thought they would) the car I owe 15k on .. which is who I would imagine would sue before any of the CC's would, if they would. As far as credit cards I would say 10k in debt now with the interest that has piled on. I'm not trying to 'defraud' anyone. I'm just trying to be fair to my parents, they shouldn't have to deal with my mess so they shouldn't lose money just because they tried to help me ya know

The only reason I was planning on selling it was to file bankruptcy right away. Sure I had no problem with it per sae. BUT then again I would be spending it on useless stuff. Well maybe not completely useless but stuff I don't really need. BUt i do thank you for your replies, it is just a touchy situation and I know that so I do as any 'future lawyer' would do and get thru the loopholes but at the same time follow the laws of the land.

[Jenny]

Think of the car like a stack of money. They gave you money in the form of a car. It's a gift.

[bkfiler]

id sell half the car.

[Graphic]

Yep, unfortunately I have to live with that. Do I agree with it.. maybe not but hey what can I do about that Live and learn.

[AMISLANDER]

It doesn't sound like you owe enough debt...

for bankruptcy to be your option.

You can stall your creditors for at least a year & yes, you can get your debts cut in half...I think you've read enough posts here to realize that most people who need to file bankruptcy are in WAY over their heads with credit card, medical and house debt. You could let the repo'd car slide....for a while...what are they going to come after you for?...Sell the car you're in & pay off your parents; go get something to drive for $2,500.00...really think about this bk thing, it should be the last option......

When I got out of college, I was in cc debt probably like $5k, owed on a student loan, deferred as long as possible...that kind of thing...so I went to work in NYC 5 days a week and worked in NJ on the weekends...seven days a week...ok...that certainly put a dent in my debts...I was like, what 25? I didn't even think about bk...it was all about taking care of the debt that I had accrued...do what you need to do, but be SMART!

[SinkingFast]

Amis is right. Your level of debt is a drop in the bucket compared to what we have. Ours came from medical bills, house repairs, auto repairs, big expenses for family that came along when we didn't have cash to pay. Oh, yeah, and outrageous lines of credit didn't help either. But we are looking at an accumulation of debt over a period of many, many years. Robbing Peter to pay Paul. At the end, in the last year or so, selling everything we own that had value to hold on, hoping to work thru it. BK is a last ditch effort for us because there's really no other way out at this point.

You should really think about this long and hard. You're young. You can work thru this with your Creditors. Think how much easier it is for you to tighten your belt, work, and pay now, than to pay for years to come. BK will affect your ability to get a job, it will affect your insurance rates, the impact is very far reaching in ways I'm sure you haven't even begun to think about.

Lenders, underwriters, potential employers, and others make judgement calls about people based on "morals" information available. Many of those same people consider BK an issue of morals as much as finance. Lenders and underwriters may choose not to give you a loan, insurance, etc. If they do, it will be at higher interest rates or premiums than you woulda paid without the BK. If an employer is on the fence, choosing between you and another equally qualified candidate, the employer could lean toward the other person just because you filed BK and they didn't.

[AMISLANDER]

Amis is right. Your level of debt is a drop in the bucket compared to what we have. Ours came from medical bills, house repairs, auto repairs, big expenses for family that came along when we didn't have cash to pay. Oh, yeah, and outrageous lines of credit didn't help either. But we are looking at an accumulation of debt over a period of many, many years. Robbing Peter to pay Paul. At the end, in the last year or so, selling everything we own that had value to hold on, hoping to work thru it. BK is a last ditch effort for us because there's really no other way out at this point.

You should really think about this long and hard. You're young. You can work thru this with your Creditors. Think how much easier it is for you to tighten your belt, work, and pay now, than to pay for years to come. BK will affect your ability to get a job, it will affect your insurance rates, the impact is very far reaching in ways I'm sure you haven't even begun to think about.

Lenders, underwriters, potential employers, and others make judgement calls about people based on "morals" information available. Many of those same people consider BK an issue of morals as much as finance. Lenders and underwriters may choose not to give you a loan, insurance, etc. If they do, it will be at higher interest rates or premiums than you woulda paid without the BK. If an employer is on the fence, choosing between you and another equally qualified candidate, the employer could lean toward the other person just because you filed BK and they didn't.

Hear, hear...at my company, I was just in HR to see what my witholdings were for 2005...and lo & behold, they were talking about some new hire they had been waiting on for a background check......

Employers can take background checks these days as far as they want to...when I signed up w/Kelly services, that got me into this company, I had to get a release form regarding something on my record that I had been arrested for and later got totally dropped. It was a bad check that got way out of hand...well because things that have been dropped, still show up, I had to get a release from the State of Florida on this for Kelly services...probably a little document I may have to keep for the rest of my life, just like these bk papers...(if I can find it?)

but seriously...I'm 43...I would hate to have to take a step this dramatic in my 20's...I've been married, built a home, had 2 children, gotten divorced, blew alot of $$ stupidly after divorce and basically lived a life before dealing with this type of endeavor.........It's just part of the end of my bad years, as I call it. But I already have, what should we say...A HISTORY....just like those commercials for every little drug you see on the market..."if you have a history of.....", please, inform your doctor.....take some time to talk to some bk lawyers, just for the he*l of it...