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

[justbroke]

I'm sorry to be not-so-happy about spending the rest of my life, or her life, in hiding. With $50K in the bank and collecting food stamps (I wasn't talking about SS benefits), I can hardly see that as any different than someone who files bankruptcy and hides $50K from the Trustee. But that's me, and I did put that aside due to her age.

I'm more concerned that she has gone into hiding and that never works out for anyone in the long run. I'm glad that she found something to keep her busy and not go insane.

[ValleYum]

Meri - I guess it is a matter of perspective then. You are looking at her as if she is a heroine; I simply pity her.

If she owns the car (and it is shiny and new), it is likely that some creditor some day will be driving it away. I would hate to be peeking out to my driveway constantly worried as to whether my car would be there or not.

And even if you are depending on family, there is no guarantee that their circumstances won't change or that they will not start to feel put upon. It may not happen in her case - if she is lucky.

She has no judgments or summons now, but if she is receiving government assistance, she is truly not off the grid or out of reach to a creditor and it is not totally unlikely that some tenacious JDB will try.

Without a bankruptcy, if you ever do get a new car and you ever do get the education to get a better paying job, you will always have to worry that your judgment creditor will be there to take away what you had gained by your hard work. To not have to worry about that in my future is a fairy tale to me. Again, it's a matter of perspective.

I wish you well, Meri.

[merime]

I agree with it all, but i don't think at 78 any of that matters. Allit takes is one illness to take a seniors life away. The thing that got me is she is not hiding. It almost seemed like the creditors looked into her bank accounts and said -why bother? I agree if and when the right time comes -I hope to be able to file. I guess I just am amazed that the roof does not fall in when you are in debt. this woman really touched me. Seeing so many new people here thinking the end of the world is approaching ,is just sad. I hope that we all can realize that life does not end with a credit score.

[iswmle]

This story kind of churned my stomach. I just can't look at her as a Robin Hood, but as a woman who is bilking the system, living off of food stamps and free healthcare. I have two jobs, one is at a bank working in credit card services the other is working for low income elderly people. I see people struggling on both ends of the spectrum, and I find nothing heroic or touching about this woman's actions. Quite the opposite, actually.

[LadyInTheRed]

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.

First of all, nobody is objecting to her collecting social security. She's collecting food stamps and getting utlitiey bill discounts that are meant for the poor, not people hiding cash in their mattress. Second, we all pay into unemployment through payroll deductions. Our employers also contribute on our behalf. Fortunately, I've never had to go on unemployment. But, if I ever do, I've earned every penny!

[merime]

Heck I never had the luxury of getting food stamp, unemployment , welfare or even a free dinner. Would this woman be any more respectful if she had used her bottom dollar to pay her CC and been on the street homeless for the rest of her life. I doubt the thousands who abuse the system feel any remorse. I think at that age if you have given your whole life , a free lunch is not asking too much. She struck me as the kind of lady who would give her her money to charity. In fact if it makes everyone feel better - I asked her if she was looking for a job ( met at employment fair), she replied no sweetie I volunteer.

[keepinitreal]

Heck I never had the luxury of getting food stamp, unemployment , welfare or even a free dinner. Would this woman be any more respectful if she had used her bottom dollar to pay her CC and been on the street homeless for the rest of her life. I doubt the thousands who abuse the system feel any remorse. I think at that age if you have given your whole life , a free lunch is not asking too much. She struck me as the kind of lady who would give her her money to charity. In fact if it makes everyone feel better - I asked her if she was looking for a job ( met at employment fair), she replied no sweetie I volunteer.

merime, there are other people on this site who also have avoided filing bankruptcy and are staying under the radar. "Goingdown" is the first one to mind. Not sure why he hasn't filed, but he has chosen not to, and he has a lot of useful advice to give on this forum.

[AngelinaCat]

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.

I am actually a tiny bit offended by this. I fall right within this description. I am far too young for Social Security, but am also far too old to be seriously considered for FT employment. I have been passed over three times in favor of far younger people--because (1.) they are cheaper to hire in the first place, and (2.) employers don't expect them to retire within about 5-8 years.

I don't even get the courtesy of an interview. So I don't get the opportunity to tell a prospective employer that I will work dirt cheap, and that I don't plan to retire.

So I am ekeing it out with a PT job. Summer hours have been cut. Unemployment has been cut--which I PAID into BTW, when I WAS still employed FT. I am also picking up side jobs as I can, here and there, and am posting some items on eBay. I am also literally out picking up aluminum cans every day to recycle.

I am married, and 'Hub is on SS, and is currently out of town working a job in Tennessee, trying to earn some money.

We have tried several times now to get food stamps, but 'the household makes too much money', is the declination reply we get each time.

Meanwhile, the prices for utilities, food, fuel, insurance, etc. keep going up.

Okay, this turned into a little bit of a rant, but I needed to get this off my chest. We actually are a little bit more blessed than many, because we did our Estate Planning more than ten years ago, and thanks to that, we are not losing our home like so many are or already have. The above rant describes my/our frustration with our lack of reliable income each month in order to be able to pay our bills which keep rising.

Thank you for your patience.

[merime]

Filing bankrupcy is a luxury for some. Many did not go out on spending sprees or live out of their means. I know so many people who fall into the too plenty for food stamps, but too poor to get by day to day. That woman got her money out of the bank so that she could live the rest of her life. Not having that money seized and distributed to creditors ,I think was a smart move. I feel blessed to have shared this story. I know everyone on this forum has a unique set of circumstances that brought them here. I believe it takes a village to raise a child. I also believe when we think we know the answer sometimes all we have is more questions.

Thank you all for your patience too!!! I really have struggled way too long without any sign of relief. Everytime I breathe I get pushed back under. Seeing someone in a lifeboat yesterday made me see the life preserver right within my reach.

[discouraged]

After reading through all this, IF anyone in the system catches on that she has money, she will be going through a living hell as they will make her pay back all that was given to her. And as for her money being under her mattress...it was the greatest relief I ever felt to know I could finally keep my money in the bank and not have to worry about someone breaking in and stealing it or to lose it in a fire.

This bankruptcy has freed me is so many ways. I shudder when I remember how I kept my money (little enough that it was) at my home.
Angelina Cat, I also am at an age where I have not been re-hired. 4 more years before I can think of social security and scared to death of what will happen, but at least, with this forum I was able to recognize that it was insane to keep paying the vultures and filed for bk. Still waiting on the outcome - (soon - please!) but it is so refreshing to stop worrying about the creditors at least.

Merrime, if your friend is ever investigated, she will be in serious trouble. I'd much rather be on the street than in jail. This is not a fairy tale, but a nightmare for an elder who does not know what she is facing if she is ever caught lying to the system. I pity her if she is found out.

[DesdemonaB]

Filing bankrupcy is a luxury for some. Many did not go out on spending sprees or live out of their means. I know so many people who fall into the too plenty for food stamps, but too poor to get by day to day. That woman got her money out of the bank so that she could live the rest of her life. Not having that money seized and distributed to creditors ,I think was a smart move. I feel blessed to have shared this story. I know everyone on this forum has a unique set of circumstances that brought them here. I believe it takes a village to raise a child. I also believe when we think we know the answer sometimes all we have is more questions.

Thank you all for your patience too!!! I really have struggled way too long without any sign of relief. Everytime I breathe I get pushed back under. Seeing someone in a lifeboat yesterday made me see the life preserver right within my reach.

While I understand your need to find good in all; I have to disagree with this this last post..

Filing bankrupcy is a luxury for some.....the only people who can fall in this catagory do NOT follow this forum.

Many did not go out on spending sprees or live out of their means... When there is no $$ there is no spending. Ask yourself this... as your credit debt climb where did you "find" money to spend?

That woman got her money out of the bank so that she could live the rest of her life.... @ 78 she might have addition +10 years to her life (God Willing)... will that 50K cover that? That's 5K per year.. 5K per year.. who can live off 5K per year (besides a 15 year old)

I believe it takes a village to raise a child.... I am currently fighting an ex-husband who is "living" by this statement... he believes he doesn't have "support" his child(ren) the village does!!!!! He too is someone who "works around the system"; someone else who feels I have my own personal "cash " which = mommy and daddy; that means I am "untouchable".

I am a single parent of two children with a full time job (who managed to keep it in the last 3 years - in the automotive field IN DETROIT) who is well respected both inside and outside of my job. I am 42 years old and could NEVER restart at my current salary, I had to file or lose everything and I had less then 1/2 of her debt.

While finding the good in everyone is something we all should do everyday, maybe this story is not the correct story to be shared here.

[merime]

Yes the economy, divorse, no child support and job loss all contribute to bankrupcy. $5,000 a year-I live on $7,000 for 4 people! Everyone has their own story of how we got here. God knows , I have never been on the recieving hand of any free lunches. It takes a village to raise a child ,I ment that as a metafor to this forum. It take a lot of stories to help each of us with our own situation. The way we got into debt is one thing ,how we choose to repair ourselves is often aided by the experiences shared in this forum. I do not know this ladies life history, only that she raised a family and her childrens family on her own. I do not feel she is any different from so many people who claim deductions that they should not, go out and spend on living expenses to pass the means test, empty their savings account before they get a judgement, or like her gave her money or found a safe place for it before it is seized. If you know that your resourses will be likely to disappear , is it not wise to do what you have to , to survive? I would hope our government has more important things to do than chasing down a little old lady getting food stamps. I have seen a lot of people who should'nt be getting unemployment,welfare and government assistance. I am pretty sure help with utilities, food stamps and medicare, (a given for many seniors), is a lot less than taking complete care of her for the remaining years of her life by a government institution. If she can pay her rent , masjority of her living expensess, her gas, and contribute through volunteer work, I do not think she is being a burden to society.

[BKAttyMI]

Wow, this lady is leaving a potential DISASTER for her heirs to sort through with creditor claims on her estate. When/if a creditor sued her, it wouldn't be hard to track down a large withdrawal of $50,000 from a bank account and for questions to start being asked. This could end very badly for her.

[merime]

She said she had withdrawn it years ago. She said at least 2 years before she had to stop making credit card payments. There is no law against that. People on this forum are always warned to empty savings accounts before they have a judgement. I went to court and got sued for $24,000, the attorney could have cared less about my assets. In fact nobody in the court room even took the judgements like a death sentence. With nothing to give, its not worth their time. Now in the future if that changes for me of course I will have to act to get the judgement removed. I doubt this woman is going to win the lottery. Elderly people are victims of scams and medical bills that wipe them dry. When I posted her story, I was not expressing morals or ethics. I was showing genuine surprise. From the day I first missed a minimum , my life has been down hill. Every time I think that I paid minimums for 5 years only to end up with essentially the same amount of debt due to interest , I shudder. I tried being the better person. Called up before I even had a late payment ,asking for a reduced minimum. That was not an option for Citi. I endured collection calls 10 times a day, police knocking at my door with summons, being terrified in court, being afraid I would not be able to live from day to day. My mom has an account in collections herself. They don't bug her at all. she is in her 80s and on a fixed income. She used a lot of her savings to pay off her bills and even did a settlement. I think they put more effort into collecting from those with potential to pay. I was just happy to see that one person did not have to struggle like I have, and like those on this forum have. It just showed me that when you can not get a "do over", sometimes you can still make do.

[lillymarlene]

Wow, this lady is leaving a potential DISASTER for her heirs to sort through with creditor claims on her estate. When/if a creditor sued her, it wouldn't be hard to track down a large withdrawal of $50,000 from a bank account and for questions to start being asked. This could end very badly for her.

I sure agree. My father who died a few years ago, left behind over $700K in debt, secured and unsecured. What a mess! Any property that had his name on it, was mortgaged. I was in a business with him for over 30 years, and did not find out a lot of things until his death. He had a loan of over $50K (one of the smaller loans) secured against the business, that payments were automatically deducted from one of the business checking accounts. The worst thing is, I can't be certain I may have "accidentally" cosigned for that loan. His ancient rundown house that my brother still lives in, has a huge mortgage well past its value, and will not be paid off until my brother is in his 70's. My father though he had paid most of them satisfactorily, also put my name, and this also happened to my brother too, on various credit lines and loans, without telling us. We did not find out until a couple of years ago, when getting our credit reports.

A few years before he died, I remember of feeling so bad for him. When working together, he would hand me a stack of his credit cards, and tell me to find out which ones had anymore "room" on them. I knew something was horribly wrong then, but I was already deep into my own bad habits.

I sure do not blame my father for my financial problems, but some of these things were just another little push into my bankrutpcy. The economy "tanked" by the end of 2008 and there was just so many business creditors, along with the personal. The business I am involved with does not provide "necessary" items or services. I eventually lost my retail location, though I am trying to keep my business. Working online and basically out of my home, since good jobs that pay well are almost impossible to find when you're pushing 60.

Well, good luck to that lady and espescially her heirs.