100K limit? myth or real

[UpACreek]

[Cali]

You know I had to do more work to file because my hubby was deployed. At first they wanted the POA, which I got before he left. It had to be one specifically stating I could file in his behalf. Then they wanted a copy of his orders, which I had to get him to scan and email me so I could print them and fax to attorney.

But the 10 days have past and I have 40 days to go.

It seems awfully late in your case for the UST to appear. I'll bet they don't get involved in your case because of your husband's deployment. Congress did a lousy job of defining "special circumstances" rebutting abuse but military deployment was one specifically mentioned in 11 USC so I'd be surprised if the UST would file a presumed abuse statement. Their time is almost up anyway (10 day rule).

[catdance23]

I want to know what that perfect answer was too. Pleeease.

[Frogge]

I have receipts from every CC purchase from the beginning of the year, and I put the past statements in an excel spreadsheet and added what the charge was for on every one of them. And, I put the charges in categories (utilities, clothing, personal care, etc.). Same with my bank statements.

Also, because we had VERY large cash advances in January and February to pay other cards, I showed where every dollar of those advances went on the bank /CC statements.

I'm thinking this is somewhat obsessive, but I was actually curious myself where all the money went..

[halloweendmb1]

no kidding what is the perfect answer?

[Priceless ProSe]

We were actually under 100K in debt and our attorney was worried about it.
He asked us one question as a test: How did you expect to repay this?
I guess my answer was good enough because he responded with 'perfect'.

The trustee never even asked us why we had so much debt.

So what was the "perfect" answer, if you dont mind me asking?

[momof5]

We were actually under 100K in debt and our attorney was worried about it.
He asked us one question as a test: How did you expect to repay this?
I guess my answer was good enough because he responded with 'perfect'.

The trustee never even asked us why we had so much debt.

[Help!]

Help!, I know you're already discharged so this won't help you much, but the trustee can also request information from your bank, cc cos., etc. (Mine had me sign a release so that he could do just that.)

If you have tried to get cc statements from the creditor and are refused or just ignored, you can write a letter (or email, if he allows) to your trustee stating who you contacted and when, and that they were uncompliant. The trustee can then go after the statements himself, if he wishes.

In the end, you can't get blood out of a turnip... but if you can prove you tried, that's half the battle.

Thanks FLAD - that's exactly what I did. The trustee's assistant said that even when the trustee requests statements they sometimes have a hard time getting them (especially when preferential payments are involved). The cc companies tell the trustees that it would be a violation of the account holder's privacy (ha!).

[FreshLikeADaisy]

It is very important to get copies of any missing CC statements BEFORE you file. We were missing a couple and the CC companies (especially Chase) refused to issue copies. B of A told us they would mail them, then didn't. I'm sure they "got lost in the mail".

Help!, I know you're already discharged so this won't help you much, but the trustee can also request information from your bank, cc cos., etc. (Mine had me sign a release so that he could do just that.)

If you have tried to get cc statements from the creditor and are refused or just ignored, you can write a letter (or email, if he allows) to your trustee stating who you contacted and when, and that they were uncompliant. The trustee can then go after the statements himself, if he wishes.

In the end, you can't get blood out of a turnip... but if you can prove you tried, that's half the battle.

[Cali]

We were making almost mid 6 figures. My job went overseas and I didn't want to go with it because of my DH job and our kids.

That's kinda what happened to us. My SO got really sick, had to shut down my business because the economy went to hell and here we are.

[Debster222]

Everything changed once we went from a nice 6 figure combined income to just 1 income.

That's kinda what happened to us. My SO got really sick, had to shut down my business because the economy went to hell and here we are.

[Help!]

Does the 10 day rule start the day of or the day after?

The day of... so if the 341 is concluded on the 10th, the statement is required to be filed by the 20th. Sometimes UST statements appear a day or two after the deadline, though.

[screwedupbyRE]

I have 104k on CC.
Lost 95% of it in stock market doing day trades. How trustee would react to it?

[Cali]

Everything changed once we went from a nice 6 figure combined income to just 1 income.

It was a total shock to me too, how much in debt I was. I knew it was a lot, but I was stunned, nonetheless. From now on, I keep track of my money and such very closely and always know where I'm at.

I know it was me who ran up the debt and am ultimately responsible, but what in the hell were these credit card people, etc., thinking...giving me that much credit in the first place? I almost don't feel too bad for them. KWIM?

[Debster222]

Thanks, makes me feel better. We stopped using all of our credit last year when things were obviously headed downhill. I didnt buy anything big but I have bought computers and such in the past (over a year ago). I guess I was worried because when I filled out all my forms our debt came to slightly over 98k (unsecured), and I was thinking OMG! I never realized we even had that much debt until I put it all out on paper. Before it was just 20 bucks a month to this card and 15 bucks a month to that card. Money flies when ur having fun I guess.

It was a total shock to me too, how much in debt I was. I knew it was a lot, but I was stunned, nonetheless. From now on, I keep track of my money and such very closely and always know where I'm at.

I know it was me who ran up the debt and am ultimately responsible, but what in the hell were these credit card people, etc., thinking...giving me that much credit in the first place? I almost don't feel too bad for them. KWIM?