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

[merime]

Yesterday I was at an employment job fair. Somehow got to talking with an older woman with her person who was with her friend that was apllying for a job She saifd that she hadover $100,000 in CC debt. That before all her accounts went into collections , she withdrew all her savings ($50,000), from the bank. She keeps it at home!!?? She is on social security and gets a $70.00 retirement check. She told me that she moved here from Iowa 2 years ago. she did not get a phone line,(uses her friends), was able to rent an apartment with no credit check and actually qualified for food stamps and help with utilities. She said she has not been sued and has yet to be bothered by mail or her cell phone. She lives off cash and is very happy. I guess some people do get a fairytale ending!

[Freddy03]

So she was able to save $50K b/c she lived off $100K worth of credit?

That's not a fairytale ending in my book.

[merime]

Considering everyone here is afraid of losing their homes,cars and having their wages garnished i do think so. Is it right,no morally and ethically. She did say she paid up until they started lowering her credit ans uping her minimums. It did not seem like she just rang up $100,000 in 2 months. More like she was like everyone else , free spending before the economy bottomed out. I think her being able to rent and live without being hassled is a fairytale. She escaped the effects of credit damage and bankrupcy.

[Freddy03]

Considering everyone here is afraid of losing their homes,cars and having their wages garnished i do think so. Is it right,no morally and ethically. She did say she paid up until they started lowering her credit ans uping her minimums. It did not seem like she just rang up $100,000 in 2 months. More like she was like everyone else , free spending before the economy bottomed out. I think her being able to rent and live without being hassled is a fairytale. She escaped the effects of credit damage and bankrupcy.

I guess I don't understand the fairytale reference - she really isn't escaping anything. She is elderly, doesn't work, doesn't own a home so she didn't do anything to avoid BK.

[IHateToBeEmo]

Yesterday I was at an employment job fair. Somehow got to talking with an older woman with her person who was with her friend that was apllying for a job She saifd that she hadover $100,000 in CC debt. That before all her accounts went into collections , she withdrew all her savings ($50,000), from the bank. She keeps it at home!!??

I would be nervous having $50k in cash in my house. Every time I left my house I'd worry lol.

[merime]

That said , i agree. It just seems CC debt ruins peoples lives forever on here. So many stories of garnishment and repo. I assumed you could not rent an apartment , get credit or buy a car if you had that much debt.

[HHM]

But here is the false assumption, that bankruptcy is somehow worse...

That does not sound like a life, she can file chapter 7, wipe out the debt in 4 months and be FREE...hardly a bad thing.

As for being "happy", please. People have great tolerance for suffering, prison inmates can be HAPPY.

I read that story and I am just sad for that women. It's like a person living with an arrow shot through their arm because they think if they go to the Dr. they will lose the arm, when in fact, the arrow can be removed and the person given antibiotics.

[HHM]

Considering everyone here is afraid of losing their homes,cars and having their wages garnished i do think so. Is it right,no morally and ethically. She did say she paid up until they started lowering her credit ans uping her minimums. It did not seem like she just rang up $100,000 in 2 months. More like she was like everyone else , free spending before the economy bottomed out. I think her being able to rent and live without being hassled is a fairytale. She escaped the effects of credit damage and bankrupcy.

Falling off the grid and living in some crappy apartment (how good of a place do you think she could get with no credit check) is not a fairy-tale, it is avoidance and denial. Certainly no fairytale.

[DesdemonaB]

How happy is she going to be when that 50K runs out, God forbid something happens with her health, home or car. Pretending that debts that size wouldn't follow you just because you move to a different state wouldn't get her anywhere but deeper in debt.

Oh don't kid yourself; her credit is destroyed 100K in collections is the same if not worst damage to credit then a BK.

[DYLAN150]

Guess I am missing the boat here, how can she claim bankruptcy with 50 grand? BTW, just had a friend who has crappy credit rent a nice home without any credit check at all. Apartments here are different. They will check your credit and also see if you are a felon! If you rent an apartment here where I live without a credit check its in the bad part of town.

[merime]

I think for people over 65 its different. I just couldn't help thinking about her. Nobody is hassling her , so she is free. The part of town she lives in is really nice. I think if your a senior, they kind of give you a break. I talked with her a lot and she is getting all her food, ulilizies and healthcare for free. I know my mom pays $300 to health insurance. I doubt she is going to need a good credit score for anything in the rest of her lifetime. She made me laugh when she said she would'nt pay a lawyer the 2 grand to file. The woman bucked the system. Beautiful apartment, nice shiny car and still living a life among her family native to this state. I say good for her. I do not think its morally right, or a great idea, I was just in awe as I know how many battles and demonds most of us face.

[newbie2]

She really should be careful about telling strangers that she has that much money stashed away in her home. It's an invitation for a robbery (or worse).

Edited to add: I prefer to be in "awe" of people who haven't figured out a way to buck the system and brag about it. Just me...on my moral high horse.

[Freddy03]

Falling off the grid and living in some crappy apartment (how good of a place do you think she could get with no credit check) is not a fairy-tale, it is avoidance and denial. Certainly no fairytale.

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.

[Freddy03]

Yesterday I was at an employment job fair. Somehow got to talking with an older woman with her person who was with her friend that was apllying for a job She saifd that she hadover $100,000 in CC debt. That before all her accounts went into collections , she withdrew all her savings ($50,000), from the bank. She keeps it at home!!?? She is on social security and gets a $70.00 retirement check. She told me that she moved here from Iowa 2 years ago. she did not get a phone line,(uses her friends), was able to rent an apartment with no credit check and actually qualified for food stamps and help with utilities. She said she has not been sued and has yet to be bothered by mail or her cell phone. She lives off cash and is very happy. I guess some people do get a fairytale ending!

And just to add that my neighbor with 3 kids is unemployed (but does get unemployment) doesn't qualify for food stamps and his kids are eating bean and rice while this lady has $50K in her mattress doesn't make me feel happy for her.

This is just my opinion.

[Freddy03]

I think for people over 65 its different. I just couldn't help thinking about her. Nobody is hassling her , so she is free. The part of town she lives in is really nice. I think if your a senior, they kind of give you a break. I talked with her a lot and she is getting all her food, ulilizies and healthcare for free. I know my mom pays $300 to health insurance. I doubt she is going to need a good credit score for anything in the rest of her lifetime. She made me laugh when she said she would'nt pay a lawyer the 2 grand to file. The woman bucked the system. Beautiful apartment, nice shiny car and still living a life among her family native to this state. I say good for her. I do not think its morally right, or a great idea, I was just in awe as I know how many battles and demonds most of us face.

In most states personal property can be collected to satisfied a judgment. Hope the shinny car isn't in her name.