Sigh....I Maxed My Cards During Marrige Problems(cash advances)

[IAmALowlife]

Oh no....well there goes my 724 credit rating and possibly my freedom

Me and the wife has not been getting along the last couple months.She basically told me to go so i did...straight to several banks where i got cash advances and i also charged cigs + gas,food,etc and i am MAXED OUT now and VERY frightened!!

I have never done this before and always paid my bills on time.Now i have approx $15,000 in credit card payments and i do not have a job.I don't have a darn thing in my name,everything (house,car,etc) is in my wife's name and i am feeling scared and guilty that they will try to take her hose and car.

Although i seriously doubt we will get back together i do not want her to suffer for my terrible mistake.Yes....she told me to leave but she didnt think i would max my cards then call her crying after gambling most of it away at a casino....

I have 2 weeks paid in a hotel but what do i do,i am scared to death!!

This all happened very recent so the credit card companies have not started calling her,etc but she does know i did this.I am VERY afraid they will try to take her house even though it's always been in her name as she owned it before we met.

In the state of Georgia can they try to take it??

I just do not know what to do,i want to take off to Michigan after my 2 weeks are up and maybe try to work cash jobs,etc.....I know / I know!!

I do not have the money to repay and i know i am a lowlife so please...you don't have to remind me but what should i do,try to stay in Ga and file Chapter 7 or get out of town ASAP

I am no felon and the thought of going to prison also scares me....HELP!!!! This lowlife needs advice,thanks...

These were my credit cards (4 of them) and my wife's name is not on them.I have a 1988 Ford Pickup and my clothes...that's it

[FoolAndHisMoney]

The first thing you should do especially while you still have a reasonable credit score is to find work, start fresh in an apartment possibly a studio that's very cheap and maybe take on 2 jobs. Pay your living expenses first so you can rebuild. Your going to be late with all your cc payments so after 4 to 6 months of being late they will be inclined to offer you better deals such as negotiating away interest and late fees. Once they do that start paying back whatever you can afford for as long as you can. It will take a while before they try to sue you which will result in attaching your home and car. Right now I wouldn't even consider bankruptcy at least in the near future since you racked up so much debt with no possible way to pay it back. Not sure how Georgia treats debtors as far as garnishments, etc. If your wife's name isn't on the cards then they can't go after her, but she will probably get all the collection calls.

[anonymuse]

We do not have debtor prison here in the US--you will not be going to jail.

Instead of staying in the hotel for 2 weeks (where it looks like all your money will be used up), see if you can get a room at the YMCA or a college that has daily dorm rates.

Hang in there and come talk to us--we won't beat you up for this. We've all made mistakes and we're here to help.

[jane taylor]

Beating yourself up does not help!! You are NOT a lowlife. We have all done stupid things. The main thing is to learn from them and not do them again.

Hang in there and keep us posted.

jane

[IAmALowlife]

Well i thought i would post an update.I *may* be moving back home after me and the wife met and had a good cry together.

She also wants me to go to Wal Mart and try to get my job back.I work in the tire department and right now it's extremely hot in the garage and i get paid little.

What if i were to move back home and get my job back.Could i file a chapter 7 by myself as the only thing i own is a 1988 Ford truck?? The 4 credit cards were in my name only and she has her own.The only thing we have in both names is our checking account.

I cannot risk my wife losing her $50,000 paid for house or her 1996 car(both in her name only).If that means me not moving back in with her until this is over thats what i will have to do,thats if we reconcile.

My wife makes very little as do i so paying off my stupidity would be very difficult and as sad as this sounds i would rather file chapter 7 alone for my errors if possible.

Any more suggestions...and it's ok,i know i deserve to be called lowlife,etc for not wanting to pay my debts off now but please also include some helpful advice on what i should do next...thanks

[FoolAndHisMoney]

Glad to hear your marriage is doing better. You may want to get your walmart job back no matter how bad and make some good faith payments to creditors for several months. If you still can't handle it look into bankruptcy after all other options have been exausted. If you want to file without making any payments on the recent purchases you just made they will cry fraud for sure and these recent debts will survive your bankruptcy. If the house is in your wifes name then she won't have to pay for your transactions.

[IAmALowlife]

Why did they delete it?

I am looking for advice and worried sick.The chances of me paying this back are not good as i simply do not make enough and now with the price of gas just getting back and fourth to work is gonna kill me.

I know i screwed up i hope that in my case they cannot charge me with fraud and send me to prison!! I was never late on a payment in over 7 years or so....dang....

[anonymuse]

Again, you will not be going to prison for not paying your bills--that does not occur in the US?

Committing fraud on your BK application is punishable, but there is no indication that you would ever do that.

[GoingDown]

You will have to put a large amount of time in between your last credit charges (since you had no ability to repay them when you maxed out your credit cards) and the date you file for BK, or else they might find your BK petition fraudulent. The trustee can ask to see your last 4 years of federal income tax returns, and your last 6 months of income.

For the next few years you will have to either try to negotiate with these creditors and try to make a good faith effort to repay them and stall any possible lawsuits, or start right now on judgment-proofing your life as much as possible. They can't put you in jail for not paying your debts, but armed with a judgment they can take any of your non-exempt assets and garnish any non-exempt wages. You need to find out what assets are exempt in your state.

I don't know what the laws are in your state concerning community property and such stuff as that, but I think it would be a good idea to make sure that your name is not on any of your wife's assets, such as her checking account, etc. And don't mix any of your money with your wife's money in any checking account from now on. If she acquired the house before you were married then it is probably safe from judgment creditors. But I'm not sure. Does anyone on this board know the answer to some of these questions?

[CATCHMEIFYOUCAN]

"The only thing we have in both names is our checking account."

Close the bank account with you and your wifes name (especially if you have a credit card or loan at the same bank) they will take what they can get. Credit unions are notorious for this, and re-open a separate bank account in a different bank. I went through a Debt Management System and they suggested this, even my lawyer suggested this) AND lucky i did, because sure enough the credit union i was with took $5 (of what i had left and automatically applied to one of my credit cards i had with them!) sorry to hear your troubles, im a gambler myself! pay what you can to the creditors on those cards you used for gambling and time your filing. think it is 60-90 days you must not have used your cards for heavy cash advances, luxury items etc. (im just a consumer - this is just advice). my last cash advance was in may .. i filed end of july .. so far i have not heard of any objections from any of my creditors (knock on wood) .. good luck, buddy, hang in there!

catchmeifyoucan

[9877donna]

Please take this advice in the spirit in which it is given....

Oh no....well there goes my 724 credit rating and possibly my freedom

Me and the wife has not been getting along the last couple months.She basically told me to go so i did...straight to several banks where i got cash advances and i also charged cigs + gas,food,etc and i am MAXED OUT now and VERY frightened!!

I have never done this before and always paid my bills on time.Now i have approx $15,000 in credit card payments and i do not have a job.I don't have a darn thing in my name,everything (house,car,etc) is in my wife's name and i am feeling scared and guilty that they will try to take her hose and car.

Although i seriously doubt we will get back together i do not want her to suffer for my terrible mistake.Yes....she told me to leave but she didnt think i would max my cards then call her crying after gambling most of it away at a casino....

I have 2 weeks paid in a hotel but what do i do,i am scared to death!!

This all happened very recent so the credit card companies have not started calling her,etc but she does know i did this.I am VERY afraid they will try to take her house even though it's always been in her name as she owned it before we met.

In the state of Georgia can they try to take it??

I just do not know what to do,i want to take off to Michigan after my 2 weeks are up and maybe try to work cash jobs,etc.....I know / I know!!

I do not have the money to repay and i know i am a lowlife so please...you don't have to remind me but what should i do,try to stay in Ga and file Chapter 7 or get out of town ASAP

I am no felon and the thought of going to prison also scares me....HELP!!!! This lowlife needs advice,thanks...

These were my credit cards (4 of them) and my wife's name is not on them.I have a 1988 Ford Pickup and my clothes...that's it

I know everyone here is addressing your immediate concerns buy may I make a suggestion? Get help for your Gambling problem.Your financial woes will always be there if you continue to gamble your money away.Sign up for a group that helps people with this problem.Then you will be on your way helping yourself financially long-term.
Good Luck and I hope everything works out for you.
Donna

[razorguns]

u can get a job - but make sure it's not a high paying one. Then file for bk in a few months. Tho $15g's may be very little and even at $6/hr - the trustee may think u can pay it off in a few years with payments.

Most bk's are $20-$100k.

No reason to be scared. Just fix your life and enjoy it.

r

[SinkingFast]

"The only thing we have in both names is our checking account."

Close the bank account with you and your wifes name (especially if you have a credit card or loan at the same bank) they will take what they can get. Credit unions are notorious for this, and re-open a separate bank account in a different bank. I went through a Debt Management System and they suggested this, even my lawyer suggested this) AND lucky i did, because sure enough the credit union i was with took $5 (of what i had left and automatically applied to one of my credit cards i had with them!) sorry to hear your troubles, im a gambler myself! pay what you can to the creditors on those cards you used for gambling and time your filing. think it is 60-90 days you must not have used your cards for heavy cash advances, luxury items etc. (im just a consumer - this is just advice). my last cash advance was in may .. i filed end of july .. so far i have not heard of any objections from any of my creditors (knock on wood) .. good luck, buddy, hang in there!

catchmeifyoucan

Personally, I wouldn't close the bank acct. That's one of the BK questions. You will be required to disclose any bank accts closed in the year prior to filing BK.

Maybe instead, dwindle that bank acct down to the lowest allowable balance and leave it like that. Open new, seperate bank accts in your individual names.

[SinkingFast]

u can get a job - but make sure it's not a high paying one. Then file for bk in a few months. Tho $15g's may be very little and even at $6/hr - the trustee may think u can pay it off in a few years with payments.

Most bk's are $20-$100k.

No reason to be scared. Just fix your life and enjoy it.

r

Debt levels are relative.

One person may earn enough to carry $100K in CC debt and not bat an eyelash. Another person may be overwhelmed by 3-4 CC's minimums on a relatively low amount of debt.

Each person's circumstances are different.