Chapter 7 survival

[bluesaturn]

The people on this board who have been "flamed" have admittedly done things like going to the Disney store and buying hundreds of dollars of Disney Dollars with their credit card -- planning to file bankruptcy in 3 months, knowing that they will never pay the bill. Then filing bankruptcy and turning right around and booking a Disney Cruise, 5 months later.... all while mocking people who drive "cheap" cars while they drive an Escalade.

There have been people on this board who were "flamed" for booking 5 or 6 years of Deluxe vacations, then filing bankruptcy in order to not have to pay the bill.

There have been people on this board "flamed" for not wanting to pay their loans and credit card bills, because being a SAHM is more honorable than getting a job and paying for what you bought.

Yep, some people are judgmental. Personally, I feel more people should be judgmental because some of the dishonesty and level of irresponsibility I have seen here is downright sickening.

This is not the first time this OP has posted about her bankruptcy. It appears her husband got into a tiff at work over commissions and quit his job. Sadly, it appears that he needed that job to pay for all those yearly Beach Club trips.

Oh well, it's not like our nation and economy is being run into the ground by the irresponsible lending and borrowing of our society. Oh wait, you mean that when Citibank has to lay off thousands of employees because of bad debt write offs, those are REAL people who are getting hurt?????? Oh well, just as long as the Disney vacations go on, right?

Thank you for saying what some people are thinking, but are afraid to say because they will be "flamed" as it's called.

 

[Aisling]

Hmm... 7 posts and already passing judgement

7 posts under the NEW name!

 

[Goobergal99]

7 posts under the NEW name!

Oh silly me! totally should have known they were just a cowardly regular

 

[Aisling]

Oh silly me! totally should have known they were just a cowardly regular

Watch, the New Name Club is going to come out of the woodworks for this one!

 

[Goobergal99]

Watch, the New Name Club is going to come out of the woodworks for this one!

Oh I am preparing myself for the backlash I will get.... it's all good.. nice thing about the boards is I will probably never see these people ever in my life and even if I did.. I am the kind of person who says what I want and doesn't really care... as is noted in my tag

 

[ROIE01581]

Once you file you will get lots of credit card app's in the mail. They will know you have filed B and they will offer you the world. The interest rate will be over 26%. So don't fall for it. It will be hard to get an appartment if they do a credit check. If you need to rent go to a 3 or 4 family unit. The disney visa will be out of reach for 7 to 10 years. Now that they have changed the laws they try to make you pay some of your debt if you fit the calculations and have some assets. But your home and 1 car is usually protected. If you have credit cards that are paid in full now , they may be cancelled after the filing.

Cash is the only answer for at least 5 years.

Can't afford it don't need it.

 

[Aisling]

Once you file you will get lots of credit card app's in the mail. They will know you have filed B and they will offer you the world. The interest rate will be over 26%. So don't fall for it. It will be hard to get an appartment if they do a credit check. If you need to rent go to a 3 or 4 family unit. The disney visa will be out of reach for 7 to 10 years. Now that they have changed the laws they try to make you pay some of your debt if you fit the calculations and have some assets. But your home and 1 car is usually protected. If you have credit cards that are paid in full now , they may be cancelled after the filing.

Cash is the only answer for at least 5 years.

Can't afford it don't need it.

This is great advice. Years ago, my SIL filed, and when the credit card offers started coming in, she thought she could repair her credit status by opening another account. Big mistake.

 

[Goobergal99]

This is great advice. Years ago, my SIL filed, and when the credit card offers started coming in, she thought she could repair her credit status by opening another account. Big mistake.

yea best advice is definently just to avoid using credit all together and have a nice rainy day fund, cause you will need it... for anything you may need

 

[Fritochips4u]

The people on this board who have been "flamed" have admittedly done things like going to the Disney store and buying hundreds of dollars of Disney Dollars with their credit card -- planning to file bankruptcy in 3 months, knowing that they will never pay the bill. Then filing bankruptcy and turning right around and booking a Disney Cruise, 5 months later.... all while mocking people who drive "cheap" cars while they drive an Escalade.

There have been people on this board who were "flamed" for booking 5 or 6 years of Deluxe vacations, then filing bankruptcy in order to not have to pay the bill.

There have been people on this board "flamed" for not wanting to pay their loans and credit card bills, because being a SAHM is more honorable than getting a job and paying for what you bought.

Yep, some people are judgmental. Personally, I feel more people should be judgmental because some of the dishonesty and level of irresponsibility I have seen here is downright sickening.

This is not the first time this OP has posted about her bankruptcy. It appears her husband got into a tiff at work over commissions and quit his job. Sadly, it appears that he needed that job to pay for all those yearly Beach Club trips.

Oh well, it's not like our nation and economy is being run into the ground by the irresponsible lending and borrowing of our society. Oh wait, you mean that when Citibank has to lay off thousands of employees because of bad debt write offs, those are REAL people who are getting hurt?????? Oh well, just as long as the Disney vacations go on, right?

Just b/c people do as you've stated above doesn't give you or ANYONE the "right" to slam people or criticize them. Why anyone thinks they have the right to flame ANYONE for ANY reason is beyond me.

 

[Paging Tom Morrow]

Just b/c people do as you've stated above doesn't give you or ANYONE the "right" to slam people or criticize them. Why anyone thinks they have the right to flame ANYONE for ANY reason is beyond me.

Talk about a self-contained contradiction.......

 

[rparmfamily]

The judge can and probably will request all financial records of the OP. The OP has to deal w/the trustee, face to face and answer questions. That's what the 341 is. As part of a college prelaw club we got to sit in at the courthouse and we spent an hour listening to 341's before moving along to other parts of the courthouse. They are out in the open too, the judge asks you about your cars, your vacations,etc in front of everyone.

Hopefully the OP has no nice furniture, isn't keeping their house, no cars,etc. Because if you have collaterol the trustee WILL take it to pay your debts down. They also need to be making under a certain amount.

 

[summerrluvv]

Hopefully the OP has no nice furniture, isn't keeping their house, no cars,etc. Because if you have collaterol the trustee WILL take it to pay your debts down. They also need to be making under a certain amount.

False, false and false. I'm a BK paralegal on Long Island where the OP is filing and that's not the way it works. They don't just come and take your furnishings or belongings. If there is equity in your cars or home above and beyond your exemptions, they can ask you to buy back your interest in both or convert your case to a Chapter 13. They don't just TAKE things. Most cases are pretty cut and dry and the 341 gets closed without issue.

It's not a Judge, it's a Trustee.

Good luck OP

 

[hentob]

They are out in the open too, the judge asks you about your cars, your vacations,etc in front of everyone.

Good!

 

[rparmfamily]

You're right, it is different state to state but don't they get a certain amount of personal exemptions? Don't they have to list everything they own (inventory)? At least in Fla, when we looked over 341's that is what people put. Of course they put like $10 for tv's,etc. LOL

Also, the trustee can get the tax refund.

What is the income limit for Ch 7 in NY?

 

[BarbR-Atlanta]

OK...first time in my 10 years on the DIS...if they decide to "off" me for this...then OK...

I have always been silent about most topics...just lurking...hence my only 100 posts since 1998 (we only get credit since 1999!)

But, for crying out loud people...you have a thread on how to feel GOOD about being bankrupt, AND still planning your "magical" trip, to Disney World?

I am so totally disgusted, with the whole topic...I think I have to take a powder..
I wish you all well (ha, ha) on all you future scams...hope that I am not part of them
Adios!

 

[AftertheSunset]

Good!

Just wanted to say that they DON'T look at past "trips"...in most cases, the only legal person you deal with is the trustee...you never even see the judge.

Also in most cases, the trustee never sees one IOTA of your credit card records...unless a creditor disputes. A creditor normally disputes when purchases total $4000 or more within the last 90 days.

A judge/trustee doesn't pour over every single purchase you've ever made. They never see a credit card statement.

 

[summerrluvv]

Just wanted to say that they DON'T look at past "trips"...in most cases, the only legal person you deal with is the trustee...you never even see the judge.

Also in most cases, the trustee never sees one IOTA of your credit card records...unless a creditor disputes. A creditor normally disputes when purchases total $4000 or more within the last 90 days.

A judge/trustee doesn't pour over every single purchase you've ever made. They never see a credit card statement.

They go back six months for cash advances.

 

[rparmfamily]

Just wanted to say that they DON'T look at past "trips"...in most cases, the only legal person you deal with is the trustee...you never even see the judge.

Also in most cases, the trustee never sees one IOTA of your credit card records...unless a creditor disputes. A creditor normally disputes when purchases total $4000 or more within the last 90 days.

A judge/trustee doesn't pour over every single purchase you've ever made. They never see a credit card statement.

Yes sorry I mean Trustee, not judge. It's not excatly a courtroom setting like in the movies! The one we attended was more of a conference room actually but the Trustee did ask people about property, cars, etc.

The packets in Florida had to include bank statements for the last 12 months. That could show any traveling you did.

It's all a game, like most legal things.

Best of luck to the OP. Bankruptcy doesn't sound like fun to me, especially with the new rules!

 

[summerrluvv]

You're right, it is different state to state but don't they get a certain amount of personal exemptions? Don't they have to list everything they own (inventory)? At least in Fla, when we looked over 341's that is what people put. Of course they put like $10 for tv's,etc. LOL

Also, the trustee can get the tax refund.

What is the income limit for Ch 7 in NY?

There are standard categories you list and standard exemptions for each thing (Household goods, jewelry, etc.). You don't list every single thing in your house. The trustee doesn't come to your house and look at your stuff. Can you imagine how time consuming that would be? Our office uses the max exemption for each. The income limits vary based on household size and if you are over, you do the means test which can bring the income down to file Ch 7.

Our office files thousands of cases each year and very few of them have problems. Most people are surprised just how smooth the entire process is.

 

[summerrluvv]

Yes sorry I mean Trustee, not judge. It's not excatly a courtroom setting like in the movies! The one we attended was more of a conference room actually but the Trustee did ask people about property, cars, etc.

The packets in Florida had to include bank statements for the last 12 months. That could show any traveling you did.

It's all a game, like most legal things.

Best of luck to the OP. Bankruptcy doesn't sound like fun to me, especially with the new rules!

A trip to WDW isn't going to get anyone's BK thrown out. They are looking for large deposits when they ask for bank statements, not so much expenses.