I am so lost as to what to do; my mother used my name to buy houses...

[stuckKID]

I am a 30yr old man who has regrettably signed off more paperwork than I should have ever, for houses (10+) I will never see or live in. It has perhaps been since 2005 (just before the market hit south) that I was guilt-tripped into "helping" my mother out. I did not comprehend what all the housing business entailed and was worried, considering I was banking on finishing college.

As soon as everything went bad, we entered chapter 7. However, it never cleared or settled. So, here I am still stuck and the "7 year mark" has arrived. Ultimately, I would like to replace a 10+ year old car of mine and perhaps have the chance of having my own home someday, but I have no clue what the hell my mother is up to: every time I ask her about it, she tells me she has a plan to work it out (just keep waiting)...

I've been waiting too long... I need to move on and begin building my credit again. FYI, I have had multiple credit cards and have paid off a 30K truck under my name before the crisis; my credit was above avg.

My question is, what do I do from here? I am currently back in school again after 2 year break from the last time I was in school (but now on unemployment w/ student loans). I am willing to work from the bottom up.

[LadyInTheRed]

Welcome to BKforum, stockKID.

Based on the information you've provided, it is very hard to suggest what you should do. Who is the "we" who filed Chap 7? What happened with that BK? Why was it not discharged? What debts and assets do you now have?

You need to stop waiting for your mother to work things out and take charge of things yourself. Don't let her keep dragging you down. You should insist she provide you with complete details of your joint business dealings so you can agree on a plan to "work it out". If she won't cooperate, you may need to take legal action against her. I am sure that is the last thing you want to do, but you shouldn't let her be an obstacle to your future financial health.

I assume you are considering filing another BK since you posted here. Make appointments for free consultations with a couple of bankruptcy attorneys. In the meantime, do some reading here and ask some specific questions.

[Drazil65]

Hi, welcome and maybe you can clarify your circumstances a bit. When you say "we" filed, who do you mean? Did your mother file and you did not? Or did both of you file? If both filed did the homes get surrendered? You did not reaffirm anything did you?

[stuckKID]

LadyInTheRed,

Thank you for the reply.

Sorry, "we" was meant to be me, my brother, and mother. I am not too clear why the Chp7 didnt follow through but if I remember correctly, it was because separate ordeal of a property owner that trying to sue my mother during this time. And because of that, I think that is what prolonged the filing (which the case is now over and ended in loss on the other side, not us).

Debts and assets I have now are monthly phone bills, gym, auto insurance, foods, rent, first premiere cc (paid off) and capital one (paid off).

Can you recommend me "free consultations with a couple of bankruptcy attorneys?"

Thanks again.

---

Drazil65,

All the homes have already either been bank-owned or short-saled (not even sure if I'm using this term correctly) and have not been receiving any debt-collecting calls since then, until today, which triggered me to visit this forum today: a 2nd mortage company offered me 12k from 80k to pay back and further offered a $10.00/monthly to pay back but I refused and asked for documents rather than do it over the phone)

Welcome to BKforum, stockKID.

Based on the information you've provided, it is very hard to suggest what you should do. Who is the "we" who filed Chap 7? What happened with that BK? Why was it not discharged? What debts and assets do you now have?

You need to stop waiting for your mother to work things out and take charge of things yourself. Don't let her keep dragging you down. You should insist she provide you with complete details of your joint business dealings so you can agree on a plan to "work it out". If she won't cooperate, you may need to take legal action against her. I am sure that is the last thing you want to do, but you shouldn't let her be an obstacle to your future financial health.

I assume you are considering filing another BK since you posted here. Make appointments for free consultations with a couple of bankruptcy attorneys. In the meantime, do some reading here and ask some specific questions.

[HHM]

For all the issues, the solution is pretty easy.

Go file chapter 7 bankruptcy...and use an attorney. When investments properties go south, chapter 7 BK is the eventual solution, just go do it, and do it right this time.

[Pandora]

I am a 30yr old man who has regrettably signed off more paperwork than I should have ever, for houses (10+) I will never see or live in. It has perhaps been since 2005 (just before the market hit south) that I was guilt-tripped into "helping" my mother out. I did not comprehend what all the housing business entailed and was worried, considering I was banking on finishing college.

..... perhaps have the chance of having my own home someday, but I have no clue what the hell my mother is up to: every time I ask her about it, she tells me she has a plan to work it out (just keep waiting)...

I believe you know what needs to be done - and while I understand you have family involved, your mom and brother dont pay your bills. It's a shame that your mom is taking advantage of the situation - you need to pull the power plug and do what's best for YOU and your future. If you file BK - and she and your brother wish to continue on their venture - then so be it; however - you clearly understand that its not working out and there is no magic fix.

Do the smart thing for yourself and get a fresh start - but remember - family and money dont usually mix. :/

[Drazil65]

I agree with all of the above, do yourself a favor and file chapter 7...you have to do what is in your best interest, not your mother, not your brother. Make a few free consult appts. with bky attorneys and start the ball rolling. The relief you will feel once you are on your way will be worth paying a good attorney to do this. Good luck and keep us updated!

[AngelinaCat]

You need to also understand that once you stop towing the 'family' line and do what is best in your own interest, that you are going to become the 'Family Pariah'. You already do in part, since you admit that your mother "guilt-tripped" you into doing whatever it was that you did. You will be told that you are 'selfish' and a whole bunch of other horrible things, and it may be that you will lose your family. But at age 30, you need to look out for yourself now. No one else is going to do it for you.

Good luck to you. Please keep us informed as to how you do. It isn't going to be easy...

[stuckKID]

I appreciate all the responses guys. I guess I just needed some outside views/opinions on this since it's hard to ask anyone else close to me about it or even a "stranger." I plan on this riddance before the year ends.