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Can I file?

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  • Can I file?

    I applied for several cards when I was in school. I lied on my applications saying I was employed and used the salary I should be making when I graduated. Stupid yes I know. My last year of school I got very sick and had to take a leave. Luckily I have great insurance and have zero medical debt. I kept up on my cards for as long as I could but had to stop making payments in summer of 2016 for most of the cards. I held on to 2 cards that had the highest available credit line until January of 2017 when they chose to close the accounts for me after seeing my default on the others. Last week I received a letter from a lawyer representing the biggest card issuer that really loves to sue and I’m sure they will be serving me when my 30 days notice is up.

    My total debt is around 15k spread across 7 cards. Most are around $2300 but I have one that is over 4K. None of them have been used for a year or more. The cards were all about 2 years old when I stopped making payments and had 0 late payments until then. I know that there is no guarantee that they won’t file a fraud AP but do I look likely for one? I will be filing Chapter 7 pro se as I can’t afford even the cheapest of lawyers. I don’t want to invite even bigger problems by filing. Any thoughts positive or negative would be greatly appreciated.

  • #2
    My only concern is that you misstated your income which If that's how they choose to fight it could result in you being liable for that debt. But it would have to prove to be a determining factor in their decision to grant you credit.

    As your most recent purchases are over a year old you look good on that front. Aside from the stated income standpoint your scenario looks identical to mine where you have a bunch of debt spread across many cards. That means at worst you're likely to have the $4000 card to pay when you get discharged which is a whole lot easier than $15000 provided they are the only ones who take action which is no guarantee. A lot of worry happens for naught .

    Welcome to the forum. And remember you're welcome to talk to attorneys about your case as they can go over your options and the first consultation is FREE.

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    • #3
      I consider the mis-stated income to be a non-issue at this point. You have had these credit cards for several years, which means that the applications were filled out years ago--not months ago. As you have made several years of payments on these accounts, I just don't see the creditors questioning the truthfulness of your initial application after this much time has passed. Usually that only happens when someone takes on a lot of debt in a short period of time, and makes few or no payments. For someone who has made several years of payments, the assumption is going to be that you lost your job, which is not unheard of in this economy--not that you never had income to begin with.

      Furthermore, for the dollar amounts in question, credit card companies simply don't bother unless it's an "open and shut" type case for a lot of money. Filing an AP costs the creditor thousands of dollars, and winning is not guaranteed. Your debts of a few thousand dollars per creditor are "small potatoes" to a credit card company, and most likely have been written off and sold to junk debt buyers. (Most lawsuits filed for credit card debt are actually filed by JDBs, not the original creditors.) It is extremely unlikely for a JDB to pursue an AP, as they pay so little to buy the debt in the first place.

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      • #4
        ^ agreed. That's what I was thinking also, you have $15,000 spread out among many cards while some people have that much just on one card.

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        • #5
          Thank you all for your responses. I feel a bit of relief. The cards I’m most stressed over are still with the OC. The one I feel is about to sue in the next few months is an OC that seems to love suing anyone that defaults.

          I could go to an attorney for a free consultation but I know full well that I can’t afford to hire one. I don’t want to waste anyone’s time when they could be using that hour to help someone that can pay. I have applied for an attorney from my local legal aid hopefully something comes from that. If not pro se and appointments with the court help desk it is.

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          • #6
            Get your questions answered with the free consults. I think some lawyers use that for their required pro bono work, and you might find someone who can take pay,ents from the amounts you are no longer flushing down the debt-about-to-be-discharged hole. A "free 30 minute" consult for me turned into a hour an a half, but I now have my biggest fears about bankruptcy answered along with knowing who can handle my case.

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