Met a person who "escaped bankrupcy", could it be true?

[LadyInTheRed]

Nobody is hassling her , so she is free.

The woman bucked the system.

Nobody is hassling her at the moment and she hasn't bucked the system. She's just successfully hiding right now. I wouldn't feel free if I had to hide during my retirement. Her creditors are likely to catch up to her eventually. There's a chance they won't, but I wouldn't count on it.

[merime]

That is the thing. She had a really sweet story. She was beautiful!! The way I began the conversation is she was trying to figure out her new phone. She seemed like too clever of a cookie to have anything in her name. I think her retirement buddies and family are pretty good to her. After all she had raised her sons granddchildren while he was off finding himself. I'm pretty sure she has it in a safe deposit box, or with her children. I think she paid her dues so to speak. Yes, I do agree, it makes me jealous as I stuggle so much. Here I can not afford a bankrupcy attorney, not even sure if I qualify , and just can't seem to win. I get a job and make a mere $7,000 in a year 0 benefits and I have to pay taxes of $1,000 because my husband claimed me on his taxes as a dependent.

[merime]

Even if her creditors did catch up with her what could they do? They can not touch social security or take away what is not in her name. Even I am so call collection proof , but have a hopefully long life to deal with bad credit , lawsuits and judgements. I can remember being so scared that I would be sued. Well that happened and I lived. No, I can not go buy a car, but now I am smart enough to know my rights. They can't garnish my wages or go after something because I have nothing. However , if that changes I will need to file and deal with this whole mess. She however probably will live out the rest of her life happily. I have to admire that. We all know that we paid until we couldn't and had to give up a lot for our actions. Hind sight is 20/20, at least this woman prepared for the storm and survived.

[HHM]

There is a certain generational thing going on, although the fastest growing demographic of BK filers is those over 60, when you start getting to those over 70, I believe there is a generational aversion to filing BK due to long standing stigma from a bygone era.

[Freddy03]

I guess I'm still confused as why you think she had anything to do with it. It's just her age. Add 50 years to me and give me 100K in credit I could do the same thing. I could easily save 50K and live comfortably with the help from the state paying for my food and healthcare.

I just don't get why you think what she did is smart and fairytale like.

Anyone could do it - I believe a few brave regulars here have done it and they aren't elderly but each one of them will tell you it's not an ideal lifestyle.

This lady did absolutely nothing to "prepare for the storm" but get old.....LoL

[free2breathe]

Like they say, Kharma is a b****. I'm just not willing to live off the system, hide my assets, run from my responsibilities, no matter how much I think I've "earned" it. I believe that in the end, on the other side, I'll have to answer for my actions. I understand that feeling of jealousy, merime, I do. But honestly, it's much better to live with relief than to live with shadows following you all the time. Just my humble opinion, for what it's worth

I've followed your story for the last several months, and I feel for you. But, I think since you are trying to go about things the right way, you will eventually see rewards that will make you grateful for going through all the trials and tribulations. Besides, when you make good, sound, above-board decisions, you are teaching your children about integrity and honesty. Nothing is worth more than that.

[debee]

Or say this was my grandmother - knowing she didn't have a home phone and had to use a friends phone doesn't seem like a lifestyle I'd want her in.

Help, I've fallen (onto a pile of money) and can't get up...

[justbroke]

This "fairtale" is no different than a criminal who "got away" with a serious crime by "hiding" and remaining off the grid. The fact that this person has $50K in cash stuffed in a mattress (for lack of a better analogy) is fraud when it comes to assistance payments. You have to state that you don't have any assets, and if she had that type of money stuffed away, hidden, then it is nothing more than fraud. I will look beyond that for a moment so that I can answer the post.

Hiding is not better than filing. When you file, you discharge all debt that arose before you filed -- unless it's somehow non-dischargeable. (Very limited as to those things that won't be discharged. In most cases, everything gets discharged!) If she were ever to acquire property or win the lottery, she'd now have all the accrued interest and penalties from years of "avoiding" the system come back to take most if not all of her winnings.

Strange how people somehow associate bankruptcy with going to jail.

[daxtell]

well she is 65 and she earned her right to that social security by working and contributing to it all those years as opposed to somebody not retirement age and and on unemployment eating beans as was mentioned. after a few years i guess when the statute of limitations run she will be collection proof. and since she is in north carolina her income cannot be garnished. i suppose she is sitting pretty right now.

[merime]

I guess because I envy her. I ask for help and a list of resourses to assist me on getting out on my own and the next thing I know DSS is at the door and I have to back off in asking for help. I get all the way to a bankrupcy attorney and he says i can do a chapter 7 BUT........, so I drop it. I get a job and I literally can not afford to work there. Its crazy. So meeting a little old lady who can go to bed at night and sleep well in a nice home with nice things-thats a dream to me. I wish I wou,ld have stopped doing minimums 5 years ago. it made no difference in the long hall. Yes, its an age thing,but I would give anything to be able to live the rest of my life without worry. I have been told to file myself, but with my track record-that would be a disaster.

[merime]

No I don't think she is a criminal. She paid until she could'nt. She is no different than anyone who bought a house above their means or has ever not paid a credit card. In my eyes credit cards companies almost asked for the credit crises. Our entire nation lived beyond our means. Right no, but reality yes.

[merime]

Thank you daxtell-yes she did, which is why I posted the story.My intent was not to say what she did was right or wrong -but to state that I did not believe this could happen. I mean all the media says your credit score is your life. If you don't have good credit you will never buy a home/rent /have a car-LIVE. This woman is doing all that. I talked with her for over an hour. She had worked her whole life, raised 4 children and 2 grandchildren. She is not buried alive eating beans in a sleazy apartment. Maybe I just believe that there is no hope most days. Debt is like a prison. I think if we all could have 1 do over we would. To see a 78yr old lady ,not suffering in her retirement because of debt is inspiring. I have heard the stories of so many seniors losing their lives savings to medical bills and scams. If this woman lives off her money and can still give to her children good for her. I would rarher see someone do that than try to pay off a massive hospital bill for CT scans that were not insurance approved.

[ValleYum]

Help, I've fallen (onto a pile of money) and can't get up...

But since I am off the grid, I can't get a Life Alert!!


For the record, this woman is not to be envied - I pity her - always looking over her shoulder - always dependent on the kindness of others to get by. I imagine that she had someone else obtain that shiny new car so no creditors can get it either. If that is fairytale living, I'd prefer my bankruptcy and fresh start any day.

[merime]

What fresh start? I don't see that happening? The woman owned the car. She was not looking over her shoulder. I look over my shoulder-she was not. Kindness of others-no. She had family, who knew where she had been and were doing what family should do -helping in old age. I wish I could experience some kindness of others to get the things she has. My God I worked in a nursing home and saw abandoned elderly with kids spending all their money , but never visit. I think this woman got a fresh start. She moved and has a wonderful life. No collectors, lawyers, courts or summons. If I could afford the $1,900 attorney fee-what would I get for filing. It would just mean another creditor could not sue me. From what i read on here even that is not a guarantee. I am not going to magicaly get a vehicle in the next 10 yrs or get to go back to school or get a better job. Filing is not going to prevent or allow any of that. I'm the other side of the system. The person who is truly too poor to afford help ,or the assistance to get any.

[merime]

I apologize if I am a little too pessimistic. I just have had every opportunity taken away, every chance declined, every door shut and every dream of a fresh start crushed. People say you determine what happens, yes I believed that-but it is not always true for everyone.