Talk to me about bankruptcy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No. The court will likely force you to sell the home, unless you live in Florida. I’d recommend working with a credit union to refinance all your credit card debt into a fixed rate loan and pay it off over 5 years.

Your husband MUST work.

He’s been looking and looking for work. He’s not getting hired. Whatever he gets, it has to be enough to cover daycare for two kids under 5. He used to make over 100k.

This sounds like a really tough time. But he can get work on an off shift at a grocery store or some other type of shift work job. The. You would t need childcare. Your situation is not sustainable. Bankruptcy won’t save you.

Have you been through bankruptcy? Are you a bankruptcy lawyer, or otherwise an expert? If not, then kindly STFU about how we’re not working hard enough.

Oh lord. If you’re looking for advice, be nice

[Anonymous]

Anonymous wrote:Real BK Attorney here (not some judgemental SAHM spewing some Suzzie Orman b.s. advice).

Even if a creditor alleges fraud, the Creditor has the burden of going to trial and proving fraud. (It's called an adversarial proceeding.) Many creditors threaten to do this to squeeze money out of the debtor. However, few creditors actually follow through because it's very expensive to them and creditors hardly ever win due to the high burden.

If a creditor does follow through, the debtor will need to make a choice - can I live with this particular debt or do I pay an attorney an extra 5 to 10k for this trial (the first payment to the bk attorney probably did not include this type of trial). However, many bankruptcy judges will appoint an attorney for consumers if they are poor enough and ask nicely.

Thank you.

Yes, my friend is now having to deal with additional bk atty fees to litigate the creditor adversarial proceeding. Bc the cc amount in dispute she was hoping to have discharged is (far) greater than the atty fees.

There is no fraud involved, the charges are mainly medical/therapeutic/living expenses, no luxury splurges, but this filing was unexpected and devastating to her.

[Anonymous]

Bk attorney here - ask the judge nicely to appoint counsel. As a side note, I've never seen a creditor win based on fraud when the debtor had counsel.

[Anonymous]

Anonymous wrote:Bk attorney here - ask the judge nicely to appoint counsel. As a side note, I've never seen a creditor win based on fraud when the debtor had counsel.

Except for Teresa Guidice.

[Anonymous]

OP, I filed for bankruptcy early this year. It’s stressful and embarrassing, but it’s not a life sentence. I pay $650 a month and will for the next five years (got into CC debt during divorce). Consult with a bankruptcy attorney to explore your options.

[Anonymous]

Yes, they are until the kid is 18. Ask me how I know.

Anonymous wrote:Have you applied for Medicaid for the special needs kid? It sounds like the needs are significant if the kid needs therapies, expensive medical care, etc and is still under 5.
Medicaid benefits are generally not tied to income if the kid is disabled.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Bk attorney here - ask the judge nicely to appoint counsel. As a side note, I've never seen a creditor win based on fraud when the debtor had counsel.

Except for Teresa Guidice.

Teresa Guidice went to jail because she lied to the BK court when she filed for BK. In an adversarial proceeding, a creditor alleges that the consumer lied when they applied for credit. Not at all the same situation. Stop spewing Suzzie Orman b.s. and leave the serious issues to the grown-ups.

[Anonymous]

Can he do temp or contract work to make contacts and have some $ coming in?

[Anonymous]

Can you rent out a room? If near the red line or in MoCo, NIH needs rooms for people coming for short fellowships. I found a short term room to rent that way when getting divorced.

I think you need to work on the income coming in side of the equation too, or maybe even, first.

Do you have friends or family in a lower COL area where you could relocate? I know someone in your situation who did that and they were able to get back on their feet. Bankruptcy is not going to solve the whole equation for you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No. The court will likely force you to sell the home, unless you live in Florida. I’d recommend working with a credit union to refinance all your credit card debt into a fixed rate loan and pay it off over 5 years.

Your husband MUST work.

He’s been looking and looking for work. He’s not getting hired. Whatever he gets, it has to be enough to cover daycare for two kids under 5. He used to make over 100k.

Have him pick up something like Home Depot at night and on weekends. If he has handyman skills, night and weekend Task Rabbit.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No. The court will likely force you to sell the home, unless you live in Florida. I’d recommend working with a credit union to refinance all your credit card debt into a fixed rate loan and pay it off over 5 years.

Your husband MUST work.

He’s been looking and looking for work. He’s not getting hired. Whatever he gets, it has to be enough to cover daycare for two kids under 5. He used to make over 100k.

Are you in DC? Get them in a pre-K 3 or pre-K 4 program.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No. The court will likely force you to sell the home, unless you live in Florida. I’d recommend working with a credit union to refinance all your credit card debt into a fixed rate loan and pay it off over 5 years.

Your husband MUST work.

He’s been looking and looking for work. He’s not getting hired. Whatever he gets, it has to be enough to cover daycare for two kids under 5. He used to make over 100k.

This sounds like a really tough time. But he can get work on an off shift at a grocery store or some other type of shift work job. The. You would t need childcare. Your situation is not sustainable. Bankruptcy won’t save you.

Have you been through bankruptcy? Are you a bankruptcy lawyer, or otherwise an expert? If not, then kindly STFU about how we’re not working hard enough.

DP. Bankruptcy addresses debt, PP is addressing INCOME. No one is saying you or he are not trying but since it's not working you need to try something different. Can you relocate and live with family until you can stabilize things? Is your SN child eligible for any early childhood program? He can find any job that brings in income in evenings and on weekends, stocking shifts, etc. are safer than Door Dash or Uber, but, those are options too. Addressing your debt is a temporary fix of one set of your issues, you need income from any retail or other job/splitting work & childcare shifts to help address the rest.

https://www.thebankruptcysite.org/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No. The court will likely force you to sell the home, unless you live in Florida. I’d recommend working with a credit union to refinance all your credit card debt into a fixed rate loan and pay it off over 5 years.

Your husband MUST work.

He’s been looking and looking for work. He’s not getting hired. Whatever he gets, it has to be enough to cover daycare for two kids under 5. He used to make over 100k.

This sounds like a really tough time. But he can get work on an off shift at a grocery store or some other type of shift work job. The. You would t need childcare. Your situation is not sustainable. Bankruptcy won’t save you.

Have you been through bankruptcy? Are you a bankruptcy lawyer, or otherwise an expert? If not, then kindly STFU about how we’re not working hard enough.

+1. Stop hijacking a thread that can be helpful to OP and others. Several close relatives have gone through bankruptcy and it was an immense help. I also have a child with SN and know how that impacts a family's finances. I probably live in a different state than you otherwise I would give you a referral.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Bk attorney here - ask the judge nicely to appoint counsel. As a side note, I've never seen a creditor win based on fraud when the debtor had counsel.

Except for Teresa Guidice.

Teresa Guidice went to jail because she lied to the BK court when she filed for BK. In an adversarial proceeding, a creditor alleges that the consumer lied when they applied for credit. Not at all the same situation. Stop spewing Suzzie Orman b.s. and leave the serious issues to the grown-ups.

Idiot.

Read what you’re responding to before spouting off. The BK lawyer said they have never seen a creditor win a fraud claim when the defendant had a lawyer. Teressa committed fraud when she lied about assets. Repeatedly. She also lied about her income while obtaining credit. She had a lawyer and was still convicted because she committed fraud.

Next time you want to jump in a spew your stupid Susie Orman stuff - just STFU. You have zero idea what you’re talking about.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Even if you could get your debt discharged (which you probably cannot), how will you get by afterward when you have all of the same expenses and your husband is still unemployed but now you don’t have access to any credit lines to cover your shortfalls?

We would have at least $800 a month more if we didn’t have to pay minimums.

Sure, but something got you into the debt to begin with. It didn’t just happen to you.

About 90% of the debt was accrued before my husband lost his job. We thought we were on track to pay it off eventually. And then the rug got pulled out from under us.

How did you run up that much consumer debt while your DH was making $100k/year in a low COL area? Do you have anything you could sell to help pay off the debt?

We don’t live in a low COL area. We live in the DC metro area. What I’m saying is that we don’t live in the nicest area of DC. Think one of the neighborhoods that people would scoff at here on DCUM. “Bad” schools. A sh*t shack. It’s not inexpensive, though.

Is your job remote or a field where you could find work in a lower COL area of the country? Perhaps near family or friends? It can really help, friends did it. Sold house, paid off debts, moved, stayed with family for a time, then were able to build back up.