Large amount to one creditor~ they will obviously dipute? or will they??

[lrprn]

MBNA, must be the poster child for giving large credit limits and having people file against them. MBNA took it up the butt for about 60K in my case, they didn't object and my chapter 13 will only give them about 10% back.

Good heavens! Do we *all* have MBNA on our creditor lists???

MBNA encouraged my husband to take out an unsecured loan about three years before we filed and allowed him to keep adding to it any time he wanted - all he had to do was contact them and ask for more $$. Frankly no legit lender should have touched him at that point, let alone let him borrow over $5,000. I feel no guilt whatsoever about filing against them.

Right after we filed, MBNA turned us over to a bk management company to send in their claim and have moved on to the next desperate chump.

[CAB_44]

aaahhhh-hhhmmmmm...irprn......that next "chump" in line would be ME.......aaaaaaahhhhhhhhhhhhhhhhhhhh hhhhhhhhaaaaaaaaaaaaaaaaaaaaa......LMAO!!!!!!!!!!!

Really though, this is too funny.....so what is in it for MBNA.......hhhmmmm...I'm guessing major tax write offs.etc. etc.....

Okay~ so we are major nervous about this whole load of poop.....
You see~ it's part of the reason we are in this....we HAVE been paying with ALL of our so called "left over money"....and that's why I have failed to pay these back...BECAUSE THERE'S NO MONEY LEFT OVER WHEN AN EMERGENCY HAPPENS, AND I HAD TO USE THE CC.......HELLO??????????????!!!!!!!!!!!!!!!!!!
If they take every bit of my left over money, am I NOT in the same s*** hole I was already in?????????????????
This makes NO sense to me.......I'm hoping for a 7 here people...........
guess I'll have to wait 'til tomorrow.......................................EEE EEEEEWWWWWWWWWWWWWWW!!!!!!!!!!!!!

[aa06a47]

Good heavens! Do we *all* have MBNA on our creditor lists???

I think Bank of America bought MBNA last summer. Not sure what Bank of America saw in them, they don't have the smartest credit lending policies.

I don't know what it is about MBNA, but when they "closed" my accounts to further purchases, they said, we only like our cardmembers to carry a balance equal to or less than 30% of there annual salary. I said, hell, how come the credit line you gave me is a years salary then....LOL!!!

They told me they would finance me a home equity loan to cover the balance and pay it off...I said no, I had other financing in mind (Chapter 13 Bankruptcy). Like you lrprn, they sold my account right after I filed to ECAST and I haven't heard a word from them at all.

[aa06a47]

aaahhhh-hhhmmmmm...irprn......that next "chump" in line would be ME.......aaaaaaahhhhhhhhhhhhhhhhhhhh hhhhhhhhaaaaaaaaaaaaaaaaaaaaa......LMAO!!!!!!!!!!!

Really though, this is too funny.....so what is in it for MBNA.......hhhmmmm...I'm guessing major tax write offs.etc. etc.....

!!!

RFLMAO...!!!! I would imagine they would rather be paid than have a tax write off but at least there getting something!! LMAO

[aa06a47]

yes but SF...at that time..I WASN'T even thinkng about BK....I was still trying to and planned on paying these ALL off....I've only been thinking about BK for right at a month....~ the incident with CapOne was what got me thinking BK........and it was just weeks before that I did the transfer..I know though.."try to explain that one to the trustee" ....
we are going to HOPE for a 7 filing here.....but 13 is probably what will end up~
You see, when I have used my CC in the last year.... it's been to pay some other bills......using those "checks" that they send you to put in your account...nothing huge, but 900. here......1200.00 there....that will show on my bank statements....so not sure how this will end up~
anyone??

Cab_44, you need to wait at least 70 days since you did the balance transfer (usually treated as a cash advance) and preferably 90 days. It doesn't matter if you wasn't planning on this when you did it. After 90 days for sure, it would be the burden of the card company to prove it. Prior to 90 days it would be your burdon to prove it wasn't fradulant. Since you never touched the money, they may just treat is as preferential payment and go after the company that you gave the loan check to. Good luck, and I think I would wait until the 91st day to file!!!

[SinkingFast]

Raising hand to MBNA here too.

And, YUP, BoA did buy them out. I remember getting the letter. It's in the pile with all my Creditor correspondence.

The paralegal said to keep everything so they could use EVERY address. Leave no opportunity for any Creditor to say, "I didn't get notified."

I know the feeling, CAB. Emergencies come up, you swipe that card. B E C A U S E,........... You don't have anything left over to pay with. After you get done paying the minimums.

As FAHM said, most Creditors aren't going to look back further than 6 months. Maybe a year tops.

And true, many of us bought things never thinking once about filing BK. Only to have BK pop up a month, 2 months, 6 months later.

Definitely get your Consults done. Get an attny picked that you're comfortable working with. Gather your documents. And WAIT as long as you can before you file. As long as you are not in danger of a law suit or foreclosure, there's no rush to file. Time and patience are your friends when filing BK.

[GoingUnderInNV]

And WAIT as long as you can before you file. As long as you are not in danger of a law suit or foreclosure, there's no rush to file. Time and patience are your friends when filing BK.

IS this necessarily true??? Right now I have Mann Bracken moving forward with an arbitration process on me, and from what I've read and my attorney says we need to get filed before they get an award (which my attorney said is the same thing as a judgement). So, if someone is moving toward arbitration, I don't really think Time is a friend, so much as it is a neighbor with a noisy dog...

[CAB_44]

Hi guys~
Well....went to see our attorney yesterday~
She looked over all of our paper work for approval, and she pretty much "stamped" everything, I have a few things I need to update and get to her, hopefully by the end of the week.
About the "time thing"...yes, she concurred with that SF and GUINV...time here is okay. As someone said they can't really do anything for 6 months, and some don't do anything at all....that is "unsecured debt"... but in my case ( and EVERY case and state is going to be different...not to mention your attorney) she said we are not in too big of a hurry...I am current on mortg. and vehicles. She said to keep paying them, and the few that I did some "switching of balance transfers" to pay them "what I can", not what is due.....but to make an effort to show that I did make an effort...believe me, they aren't going to get much!! But hey~its the thought......still can't wait 'til Cap One calls~ we should be makeing a date to actually "file" here anywhere in 30-45 days, she said "time was also on my side"....interesting I feel much better today, more relaxed~

[keepmine]

Glad it went well.
Bk is really all about numbers and some numbers are bigger than others. My biggest creditors were Cap 1 and Chase-both were $12K. They never said a word.

[SinkingFast]

IS this necessarily true??? Right now I have Mann Bracken moving forward with an arbitration process on me, and from what I've read and my attorney says we need to get filed before they get an award (which my attorney said is the same thing as a judgement). So, if someone is moving toward arbitration, I don't really think Time is a friend, so much as it is a neighbor with a noisy dog...

OK. Put Arbitration in the list too.

If you have an immediate "legal" type situation bearing down on you, then you need to make plans to file ASAP.

If you've just started missing payments, only been turned over to Creditors, aren't trying to avoid a Sheriff's Sale of your home, etc, etc, etc,......... Then wait as long as you can.

You never know. Something HUGE may happen that you'll need to include as well. Also, more time between charges and filing makes discharging the debts without Creditor Objections and/or Adversarials easier.

[CAB_44]

Yep SF...that's what she (my attorney) said......
girlfriend...you know your stuff......
She said " now if you get served on something...you let me know immediately"! ....but time is a good thing~ in my case....and I'm really okay with it~ especially since I know what I'm facing....fear is a factor here for a lot of people...when you don't know "what" to expect that's when it gets scary or MORE scary~ hang in there GUINV~
We're obviously in this together......
would it be appropritate to say misery loves company......I say that on a laughing, kind of sarcastic tone.....I mean it to be funny...not hateful!!!!!!
but really, it is true to say, I have good days and bad days...luckily my husband and I happen to have our feelings opposite on any given day...that means that I can support him when he is sad, and vis-versa...it helps....we can do that here too.......THANKS GUYS!!