Announcement

Collapse

Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as BKForum.com and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do:
BKFORUM.com (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto BKForum.com you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.


Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of BKforum.com.

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on BKForum.com are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

20/20 Hindsight and Misrepresented Income

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • 20/20 Hindsight and Misrepresented Income

    So I'm kicking around an issue, looking backwards, and wondering if it'll bite me in the rumpage. I'm worried it'll look suspicious to creditors and could use some input from others who may have insight...

    I applied for several CCs in mid-2008. I was out of work at the time (left my job mid-2007) but fully believed I could get a job anytime I wanted. My skills are in a niche of the healthcare industry and the demand for people with experience remains very high. So even though I wasn't working, I didn't think twice about putting my previous $100k/yr income on the CC applications. After all, I was going to get a better job and it would probably pay even more than what I was putting on the apps. But the problem was, I had some mental health issues that were undiagnosed at the time. Although my skills were great, my ability to cope in the workplace... not so great. I really didn't see that at the time because I was, put bluntly, a little bit nuts. And I'm not working to this day. I do have a paper trail to prove the mental craziness and when the diagnoses were made.

    Based on the income I said I had on the apps (none of the CC companies verified the income) I ended up with:

    Cap 1: $10k
    Paypal (GE Bank): $3k
    Wells Fargo: $3k
    Discover: $9.5k but I requested incr to $10k for bal transfer
    Citi: $5k but they raised it to $6k w/o any request
    Barclays: $12k but they raised it to $14k w/o any request


    And of course they're now all max'd out, along with several others that I had prior to 2008. I made unfailing minimum payments on everything through October 2010.

    I'm considering a Ch 7 BK and am well under the means. The only assets I have seem to fit into the allowable exemptions for my state. And my only income right now is from SSDI. Got $43k in backpay from SSDI in September this year but I haven't wanted to touch it because I just don't know how to pay $63k of debt with it and now I kind of want to protect it. It seems pretty straightforward, yet I'm mortified about moving ahead because I have some fears (like getting sued for fraud) that I just can't seem to get past.

    So, given the 20/20 hindsight, how likely will the CCs be to come after me for fraud if I file for BK? It really wasn't the intent at the time, but I can see how it might look like it now. I know an attorney can advise me, and I do intend to talk with a few, but would still welcome any advice or insight from the forum. Thanks in advance.

    jae
    OK - from now on it's not a "Bankruptcy." It's a "Weight Loss Program." I'm in. Sign me up.

  • #2
    peeps!!!!!!!!!

    it's the BANKS job to check it out the info you provided them.....you're feeling guilty and no need to

    it was THEIR responsibility to make certain your application was correct...let me ask you this...if you were to apply today to wells fargo...you think they wouldn't check under your bed to make sure you were not hiding the truth from them???....well...OK...maybe TODAY they would...but the point here is the banks were passing out money to everyone and their mothers and their mothers mothers .......money was FREE or cheap.

    they aren't going back to 2008....believe me...they don't care how you got the cards...just what you sent in the past 90 days prior to filing.
    8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

    Comment


    • #3
      Too funny... y'know, considering how often they've been calling me (thank heavens for Google Voice) I think maybe they SHOULD just move in under my bed. Easier access for them. I could move some things around and make room for a few other creditors and they could have a nice little party down there.

      I suppose it's a bit crazy (go figure) to worry about the apps in 2008 and yet I still do. I mean, Fraud is a scary word!
      OK - from now on it's not a "Bankruptcy." It's a "Weight Loss Program." I'm in. Sign me up.

      Comment


      • #4
        Originally posted by Peeps View Post
        Too funny... y'know, considering how often they've been calling me (thank heavens for Google Voice) I think maybe they SHOULD just move in under my bed. Easier access for them. I could move some things around and make room for a few other creditors and they could have a nice little party down there.

        I suppose it's a bit crazy (go figure) to worry about the apps in 2008 and yet I still do. I mean, Fraud is a scary word!
        as it's meant to be.......but the fraud here is the abuse prior to filing your bankruptcy...and it's a fairly difficult burden to prove on the side of the creditor unless 60 days before you filed you took a vaca to the islands and had a bill from the island bar for 2k....and you went to the jewelery shop and perfume store and spent another 5k there...NOW that's a reason to worry about fraud...

        and under your bed is too good for them...just stick them under the trash bag in the kitchen....
        8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

        Comment


        • #5
          I have a question about Google voice...if your creditors have your home phone and your cell #, how can you use google voice to avoid calls?
          Filed 1/31/11 341 3/2/11 Waiting for discharge........

          Comment


          • #6
            WHat kind of cell phone do you have ? You can download apps for both the Iphone and droid based phones which let you block numbers. The apps are free and work great. They send the # you select to voice mail every time they call.
            Chapter 7 - Filed 11/28/2010 <> 341 Meeting - Done 12/28/2010 <><> Report of No Distribution 12/28/2010 <><><> 60 Day Club <><><><>Discharged 3/1/2011<>>

            Comment


            • #7
              I went to the websites of my creditors and took out my home/cell numbers. Replaced them with the Google Voice number. It helped but it wasn't totally effective. Amex is calling my home number a couple of times a day even though my web profile definitely has the Google number. They must keep old numbers on file somewhere. Or maybe they're just idiots and can't figure out that they're calling an old number. Hard to say.

              I do like the Google Voice thing, though. It even gives you the option of recording incoming phone conversations which is a nice feature if the calls start getting ugly. Haven't gotten there yet, but it sounds like it is a definite possibility moving forward. If I continue to get calls on my home or cell numbers, I think I might tell them "she moved out, here's her new number..." and then give them the Google Voice number. Maybe that could work in your situation, too.
              OK - from now on it's not a "Bankruptcy." It's a "Weight Loss Program." I'm in. Sign me up.

              Comment


              • #8
                your big problem is there is no way you're going to be able to protect the 43K unless you wait a year to file to spend it down.

                Comment


                • #9
                  Originally posted by biotechsolution View Post
                  your big problem is there is no way you're going to be able to protect the 43K unless you wait a year to file to spend it down.
                  ya, i second that.
                  There are two secrets for success in life:
                  1.) Never tell everything you know.

                  Comment


                  • #10
                    Originally posted by Jacey View Post
                    I have a question about Google voice...if your creditors have your home phone and your cell #, how can you use google voice to avoid calls?
                    also depending on your home phone and your cell company, you can put "BLOCKS" on the creditors numbers and or exchange the pickup to google voice mail. i don't know how to "set" it up, but i have known many that have done it...we just used the blocks and that was it.
                    8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

                    Comment


                    • #11
                      Originally posted by biotechsolution View Post
                      your big problem is there is no way you're going to be able to protect the 43K unless you wait a year to file to spend it down.
                      ssi is exempt income...so they can't touch it...

                      actually in some districts...ui is exempt as well and protected under the ss act...so if peeps money was from ssdi...they are not entitled to that money.

                      however, if someone knows were ss is not exempt please chime in..
                      8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

                      Comment


                      • #12
                        Pretty sure SSDI is exempt in CO, since we use the federal statute for social security and disability. I still think it'll garner some attention, though, which is not good.

                        The same issue was recently tested up in MN when a BK trustee went after a lump sum SSDI payment of a BKer. The court agreed with the trustee but the decision was later reversed on appeal... in large part to the interpretation of the federal statute. Anyway, I'm not quite ready to trust the whole thing and am still doing lots of research.
                        OK - from now on it's not a "Bankruptcy." It's a "Weight Loss Program." I'm in. Sign me up.

                        Comment


                        • #13
                          Originally posted by Peeps View Post
                          Pretty sure SSDI is exempt in CO, since we use the federal statute for social security and disability. I still think it'll garner some attention, though, which is not good.

                          The same issue was recently tested up in MN when a BK trustee went after a lump sum SSDI payment of a BKer. The court agreed with the trustee but the decision was later reversed on appeal... in large part to the interpretation of the federal statute. Anyway, I'm not quite ready to trust the whole thing and am still doing lots of research.
                          when was the most current appeal?? one would be hopeful, that decision could or would be cited in your case...i really understand about not wanting to trust it all, even with researching it's difficult. one finds all these cases and they are point on to the situation..they are cited and the judge still turns a blind side ...even to the written law. it's a tough one...but really, i truly believe, and want to believe, you will be fine with the ssdi money. at least i really hope you are!
                          8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

                          Comment


                          • #14
                            Carpenter v. Ries, which ultimately landed in the Eighth Circuit Court of Appeals was decided in Aug 2010. I wouldn't know a case number if it jumped up and bit me on the butt, but I have a feeling I'll know it soon enough because it citing it would be important, I agree. I hope others on the forum can make use of it too if it is applicable to their cases.
                            OK - from now on it's not a "Bankruptcy." It's a "Weight Loss Program." I'm in. Sign me up.

                            Comment


                            • #15
                              Originally posted by Peeps View Post
                              Carpenter v. Ries, which ultimately landed in the Eighth Circuit Court of Appeals was decided in Aug 2010.
                              In that case, Carpenter was trying to protect his lump sum using federal exemptions. He was in the 8th circuit. You're in the 10th and you can use Colorado Revised Statute 26-2-131 which contains specific language exempting your SSDI from the operation of any bankruptcy law.

                              When I saw the amount of cash you were sitting on, I thought you would have a definite problem too. Now I'm not so sure. I would run it by a few local lawyers in free consults and if they all give you the thumbs up, I'd trust that.
                              There are two secrets for success in life:
                              1.) Never tell everything you know.

                              Comment

                              Unconfigured Ad Widget

                              Collapse
                              Working...
                              X