Filing Chapter 7 : (

[tripods68]

MarkWallace,

You seems like a very intelligent person. BK hurts you if you try to get a "real" job. Any potential employers conduct some kind of background check which include your credit history/score. I worked in the financial services throughout my career, except when I was in the military. I also hold a Series 6, Life Agent license, and Certified Notary in State of California. Each time I had to do a background investigation and finger prints in all. So if you hope to improve your career, having a clean credit history is a plus. Otherwise, no Employer that do any type of background check will HIRE you! Good Luck.

By the way, filing BK on a $15K credit balances is not a whole lot. You could make that up quickly by taking odd jobs. Just my two cents.

[Markwallace]

Originally Posted by sweeps

Then why not just go rob a BoA bank? Seriously. Under your logic they deserve it and they won't be materially affected by your robbery, so no harm, right?

That's a bit of a stretch. I believe you are getting a little to excited and carried away. Do you work for BoA?


Who said I had no moral compass? If anything I would suggest yours is a bit distorted. To have such strong feelings when it comes to such a topic as money. I wonder what you must think of the executives that pilfer millions...

I may not get a next job, my premium may rise, i may not be able to open a checking account.

Those seem like scare tactics perpetuated by an industry that gouges billions a year from low income families. I find it laughable that it is alright for BoA to loan shark these poor families, who have no choice but to use credit for houses and other necessities, yet the insinuation of someone like me not paying their debt is beyond comprehension to you. I believe your moral compass is severely out of whack. There are wars and genocide going on, famine, people dying because they cant afford a doctor(2 a day in my state as reported on national radio)... yet you are so inflamed by the suggestion of me not paying down my debt. Frankly, I consider you worse then I will ever be on the basis of morals. You clearly have some form of interest in this matter.. be it a bank shareholder or employee... and you feel like I(and people like me) are taking out of your greedy little pocket at the end of the day. I think in the end you are the one, who only cares about your own circumstances and how much money is in your account... to the detriment of everyone else around you, who could use a little much needed moral guidance.

[Markwallace]

Originally Posted by tripods68

MarkWallace,

You seems like a very intelligent person. BK hurts you if you try to get a "real" job. Any potential employers conduct some kind of background check which include your credit history/score. I worked in the financial services throughout my career, except when I was in the military. I also hold a Series 6, Life Agent license, and Certified Notary in State of California. Each time I had to do a background investigation and finger prints in all. So if you hope to improve your career, having a clean credit history is a plus. Otherwise, no Employer that do any type of background check will HIRE you! Good Luck.

By the way, filing BK on a $15K credit balances is not a whole lot. You could make that up quickly by taking odd jobs. Just my two cents.

I will never have a "real" job. So no concerns about that.

I have worked manual labor jobs my whole life so far, as well in the military. I would rather work outside then sit behind a desk my entire life where all the "real" jobs are. I don't need money, I pay next to nothing in expenses
(aside from these credit card payments which i simply have stopped paying as of yesterday), I'd rather spend my time at the park or beach after work then staying extra hours and pretending to like my boss and sucking up to clients I don't like.

Again, I am still waiting for a legitimate reason to pay them down. And no, I don't care about Bank of America's feelings. This is between 5 cards anyways, so "sweepers" precious company isn't taking the full hit. Your stock portfolio shouldn't take to much of a hit sweeper, since all you care about is yourself anyways.

[sweeps]

What is it with the trolls lately?

Mark, you obviously have your mind made up so go do it. Max out your cards, take out a few more loans, and then file. I'll forget about this in a few hours -- you'll have the next 10 years to think about it.

Bankruptcy exists for people who really didn't mean to get in over their heads. It's for people who inadvertently got into a bad situation and now need a way to start over. It's not there for you to manipulate the system and prove a point to a bank.

[bjl584]

Have you attempted to negotiate with the credit card company to see if they will give you a lower rate, or forgive some of what you owe? My Mom went through some credit trouble about 10 years ago, and she was able to settle for 50 cents on the dollar with one of her cards. I personally wouldn't run up the remaining balance on the cards before filing though. A judge will most likely see right through that, and any leniency that they would have given you will most likely be out the window. There may be something illegal about that too. Right now, you are not breaking any laws. Keep it that way.

[Markwallace]

Originally Posted by sweeps

What is it with the trolls lately?

Mark, you obviously have your mind made up so go do it. Max out your cards, take out a few more loans, and then file. I'll forget about this in a few hours -- you'll have the next 10 years to think about it.

Bankruptcy exists for people who really didn't mean to get in over their heads. It's for people who inadvertently got into a bad situation and now need a way to start over. It's not there for you to manipulate the system and prove a point to a bank.

Note: everyone who disagrees with sweeps is a troll.

[vsjhoc]

Originally Posted by Markwallace

All of my debt is in the form of credit card debt. Around $15,000 or so. I have 5 cards total and most of the debt was personal products and supplies for an ill fated business I tried to get off the ground.

Originally Posted by Markwallace

Bankruptcy costs about $450 if filing alone $900 or so with a lawyer. My case is relatively simple, no business liquidation or assets. Just an individual with outstanding credit debt, so I would be filing without a lawyer.

Aside from moral compasses and whether or not they have needles ... this seems inconsistent. Was it individual debt or not?

[simpleyme]

I see you do not want ethics to play into this but this line of thinking may be why you have a low paying job and no assets

about 15 years ago my friend declared bankruptcy and did what you propose her lawyer told her to charge up her cards, she went on a shopping spree, totally pissed me off as it was pure theft if you attempt this you should not tell others as they will think you a thief

I am pretty sure they changed it so that you can no longer do that ,you should ask your attorney who will of course insist that you pay up front in cash

[tripods68]

Why are you asking us why you should pay down your debt. That is your responsibility. When you make charges your credit card, you agree to its terms to pay it all back. If you are not responsible enough to pay it back then you don't deserve it to have one. It's really that simple. No one forced you to charge those bills. Now you want a legitimate reason why you should pay them down. You're making excuses for yourself. Why even come here and ask for our opinion. If you don't want to pay it down, that's on you.

I'll name some labor jobs that you could do to help you earn serious money.

-Cable installer makes somewhere $12K - 80K per year
-Carpenter $12K - $50K per year
-Lawnmower or landscaping jobs makes $5K - $24K per year

All these labor jobs pays really well if you work at it FT, which suit well to your liking. Making $9.00 an hour for a labor job tells me that you are LAZY to find a "real" labor job. Do you think Mexicans only do this type of job? Do you feel doing this kind of jobs is somewhat beyond your character? Do you still leave with your parents?

How about this, a truck driver makes anywhere between $10K - $60K plus a year, except some Employers do background check too. Maybe you can apply before your BK hits your record. Don't mean to offend or come across as judgemental ASS. But you need to stop making excuses for yourself. No one looks at themselve in the mirror except you. So try to be honest and make an honest living of yourself. Filing BK is cop out!

[Markwallace]

It was individual debt. I attempted a business and items such as a fax machine, computer, printers, etc were purchased to facilitate it during that time.

It was a home business. I was trying to start a call center to sell magazines and plastic poker chips. It was, how would you say.. 'unsuccessful'. I am in possession of several hundred thousand poker chips if anyone is interested. But I digress, the cards contain predominantly personal items.

Specifically:
Video games, plasma tv's, computers for gaming... I went to disneyworld. What else, I bought one of those vending claw machines... with the stuffed animals that the claw grabs. That was for personal use and is in my bedroom.

Sorry for the confusion as those two statements I made could have been interrupted as misleading.

[Markwallace]

Originally Posted by tripods68

-Cable installer makes somewhere $12K - 80K per year
-Carpenter $12K - $50K per year
-Lawnmower or landscaping jobs makes $5K - $24K per year

All these labor jobs pays really well if you work at it FT, which suit well to your liking. Making $9.00 an hour for a labor job tells me that you are LAZY to find a "real" labor job.

You realize 9.00 an hour is 14k a year? Which is more then your listed salaries above.

In regards to LAZINESS... I think people who sit at a desk all day are lazy, you know, the ones with "REAL" jobs. So perhaps we have different definitions of the word.

[tripods68]

I just listed you jobs that makes more than $14K freakin a year job. More than what you could be making now.

Dude, between me and my wife, we made over $140K last year. That income will go up another 16% after this year. You called me LAZY. Yeah Right! I guess your definition of "laziness" is different than yours. I'll take my "lazy" ass job anytime anyday over yours.

[Slicer]

Originally Posted by Markwallace

That's a bit of a stretch. I believe you are getting a little to excited and carried away.

Robbing a BoA is "a bit of a stretch", eh?

You've taken money from BoA and are considering taking more knowing you won't have to pay it back when you file BK. Ok, you didn't physically walk into a BoA branch with a gun and walk out with a bag of money, but what you're doing is still robbery, plain and simple.

That's no stretch at all. That's a fact.

[Markwallace]

Originally Posted by tripods68

I just listed you jobs that makes more than $14K freakin a year job. More than what you could be making now.

Dude, between me and my wife, we made over $140K last year. That income will go up another 16% after this year. You called me LAZY. Yeah Right! I guess your definition of "laziness" is different than yours. I'll take my "lazy" ass job anytime anyday over yours.

First, I believe english is not your first language.

Second, basing ones work ethic purely on monetary gain is a poor barometer.

Third, would you be interested in some mint condition poker chips?

[simpleyme]

you may want to rethink your idea of lazy ,lazy is refusing to take care of your obligations and still living with your parents ( come on you must still live off mom and pop )

I could be wrong but your whole post sounds made up

[Markwallace]

Originally Posted by Slicer

Robbing a BoA is "a bit of a stretch", eh?

You've taken money from BoA and are considering taking more knowing you won't have to pay it back when you file BK. Ok, you didn't physically walk into a BoA branch with a gun and walk out with a bag of money, but what you're doing is still robbery, plain and simple.

That's no stretch at all. That's a fact.

I will be making some purchases that I feel are necessary to my current well being. If, in the future, I feel I am no longer able to pay for said necessities, I may need to claim bankruptcy.

I am not insinuating for a MOMENT that I would purchase something knowing full well I was going to claim bankruptcy days later.

If the perfect storm of events were to collide... and a situation such as that did arise, I simply would like to be prepared and knowledgeable.

[Markwallace]

Originally Posted by simpleyme

you may want to rethink your idea of lazy ,lazy is refusing to take care of your obligations and still living with your parents ( come on you must still live off mom and pop )

I could be wrong but your whole post sounds made up

I'm a disabled veteran. I pay my share of the mortgage where I live. Who are you to judge me?

[simpleyme]

I am someone who saw you post that you feel no obligation to pay bills and spend money you do not plan to repay

I misunderstood, I though you did physical labor? so your parents make you pay rent then?
so if you are disable why not get a lazy job that pays enough to over the bills you have run up?

if your post are real stick around and learn what people who are successful with money do in their lives

if not maybe you and TREX could chat

[Markwallace]

Originally Posted by simpleyme

I am someone who saw you post that you feel no obligation to pay bills and spend money you do not plan to repay

I misunderstood, I though you did physical labor? so your parents make you pay rent then?
so if you are disable why not get a lazy job that pays enough to over the bills you have run up?

if your post are real stick around and learn what people who are successful with money do in their lives

if not maybe you and TREX could chat

how do i get myself out of this debt. i dont know what to do. please. i cant handle this anymore.

tell me what i need to do and i will do it. please.

[rizzmo]

I wouldn't charge the up the cards remaining balance simply because it can bite you if they can prove reasonable intent then it becomes a form of fraud. Filing bankruptcy is not a crime, fraud is. If they prove fraud then you will be liable for all debts discharged, their attorney's fees, and some amount of interest. This will come in the form of a judgment that will garnish your paycheck directly, and you will have a felony on your record.

Aside from that feel free to file ... it is your legal right as an American. The bankruptcy will be on your record for 7 years (believe this is correct timeframe, but don't quote me). The only impact a bankruptcy has is that you will not be able to get a store backed credit card (Sears, Bestbuy, Home Depot). I have found this to be the only effects of my filing.

I personally filed chapter 7 a few years ago, and my parents also filed 4 years ago. I have seen what happens first hand in two separate instances. If you are looking for more information on the process/aftermath I can post real examples and some not widely known tips on how to make the process less damaging … let me know.