Hello everyone, I wish I could say Im happy to be here but Im not.

[Flamingo]

Thanks Flamingo..I have been reading alot on this board and put off posting until today. Mostly because its so lengthy and didnt know where to start. I think I read some about your filing. Looks like it was a very long drawn out time for you. Best your glad its done. BTW whats an early Buy-Out?

"Early Buy Out" - being able to buy out early from a Chapter 13 Plan. Right now this is something you don't need to worry about and I could go on and on about our buy out and all involved. If you do a search on here you will find tons of information on it. Righit now focus on getting your situation straightened out...

[ready2puke]

Hi BK, thanks for the info...Im just leaving work right now and will google that after dinner. As far as Mom is concerned, not sure if that will work..since Im her POA and she is in a board and care and cant even sign her name anymore. I pay all her bills, her healthcare, meds, everything out of her account. So shes not even aware of the situation. Now you see why I feel freakin' like dog poo about this. If this was just my money? Go for it...I deserve it. My Mother doesnt...

[Logan]

Of course you lied about your income to get credit cards. We all did and I wouldn't worry about it.

[BKParalegal]

Ready,

You can still "perfect" the lien on her behalf, but the issue is some states have guidelines or limits on how long between the time the money was lent and when the lien is filed.

Good Luck

[epiphany]

Thanks Flamingo..I have been reading alot on this board and put off posting until today. Mostly because its so lengthy and didnt know where to start. I think I read some about your filing. Looks like it was a very long drawn out time for you. Best your glad its done. BTW whats an early Buy-Out?

I've also been thinking about trying to settle without filling. Letting the cc's go for 6 months and hoping for a settlement (which again I'd have to get the $$ from Mom). At least I would not lose the property. I keep going back and forth...I just dont know if I can handle all the calls, letters, CA's.. Has anyone on here done that with any sucess?

Welcome. Both nice and sorry to meet you at the same time.

Be careful of any settlements, as you will have to pay taxes on the forgived amounts if that is the route you choose to go.

And yes, you can handle all the calls, letter, CA's etc...most of us have been there done that, and while it was definitely not easy, it was handled. you are so much stronger than you know.

Good luck to you,
ep

[ready2puke]

Morning all, update...I havent been online to read or post due to right after my last post, my computer filed Chapter 7...crashed and burned from too much stress. The good news is Im still under extended warrenty and it'll be 2 weeks until I get it back. I borrowed some money from Mom again and bought a computer from Costco so I can do research and read the boards. I went to the library once to use their computer but it wasnt enough. This computer will go back to Costco once mine gets back from the dr. and Mom will get the money back. I just cant be without a computer without going nuts.
American Express stopped me from using the one card that I was paying ( I had 2 AX cards). Lovely.. Thanks to all for your support and understanding. I wish there was a local support goup for folks in our situation that would really be nice.
Thanks again and now its back to work.

[Minnymouth]

Ready2puke,
A word of "caution".......IF YOU ARE your mothers POA then you are responsible for ALL of her financial affairs. Is she is an invalid and can no longer sign her name (that's the impression I got from your posting)?? Does she know you are using her funds for your own personal use??
There are "guidelines" for Power of Attorney..... one of which is you cannot use that persons money or financial status for your own personal assets or gains. You need to google Power of Attorney to read about what is against the law regarding your powers over her financial affairs. Especially if she "does not know what's going on".....
As a POA - her money is NOT YOUR MONEY to borrow or use as you might need it..... mother or not!!
If you have intermixed your money with money from your moms affairs, then you need to discuss this with your attorney so he knows!! You must get this straightened out as soon as possible.
You can be creating yourself some "serious legal problems" using her funds to try to solve your own financial issues.
Even though you might be the total beneficiary in the future to your mom's estate, as the POA right now you are responsible for every dime she has and must be accountable for it.
So I hope you are keeping "excellent records" regarding her financial affairs, cause you may have a "lot of explaining to do" down the road.
You need to have a serious talk with your bankruptcy attorney if you have used your mothers money for anything for yourself (ex.. property, house, car, new computer, etc)....
The law does not "allow" you as a POA to borrow against her accounts.....
I hope this is not what you have done.......
When you are appointed as POA for someone, you are responsible for their financial affairs, medical affairs, anything regarding them (only them). You are appointed to handle their affairs for THEM just as they would if they were able.
Mis-use of this power can result in being held accountable by the Court, etc.
You MUST HAVE DOCUMENTATION of everything that you have used her funds for to represent if the Court request it.
Just because it's your mother does not mean you have "free run" of her funds as you need or see fit to use.
Please discuss this with your attorney before you make it any worse than it already is.........

My thoughts.......

[ready2puke]

I understand Minny, but I have to say there is no one else to take care of my Mom..My sister doesnt do anything. I didnt want to have this responsiblity..I cant obviously take care of my own financial affairs let alone hers..
Now I feel like I want to kill myself...I already feel like crap!

[scubaman]

DEAR RTP I'm RTP as well

I got home yesterday and I had another notice from the IRS wanting me to contact them regarding the 69k dollars I owe. I have already secured an attny for BK and am getting ready to file, but I had a total meltdown emotionally and I'm a 54 year old male and I just feel like crap. I told them about the bk and so then they said hold please need to put a tax lien on your credit reports oh thanks I appreciate that I have lost everything except my sence of humor thank god, because I don't know what else to do.
I don't have the courage to drown myself (I live in ca too) so all I can say is hang in there this forum is great and just try not to do anything stupid. (words for myself as well)..I lost $500,000 in the stock market - because where I work decided to backdate stock options and our stock dropped from $75 a share to $11 a share in 1 week ouch...my broker called and said MARGIN CALL we need to sell all your shares and hence this lovely little tax situation has occurred. Boy talk about feeling dumb.
So I'm filing bk7 and some of my taxes will go away and my personal debt of 120k will go bye bye too (I hope) . The calls do stop - I just stopped paying everthing except my auto and dell account. Organized a file system with all corresponsdence for ea. account and noted all calls etc... I took control after being on the verge of a breakdown (ps i'm on anti depressants as well) and bought some books (nolo "is the new BK for you" and " Dealing w/the IRS") nolo is very helpful AND THIS FORUM is my therapy (thks everyone)...
I'm done just your story really moved me because I hated mylife yesterday and today it is a tad bit more douable. Pease and take care,
Scubaman

[ready2puke]

Thanks so much for that....I can really relate to that $500k in the market. Altho I didnt backdate options, I did loose about 250k in the market and most recently 85k buying options. The sad thing is I bought Goog options before their earnnings report. Not the last one but the one before that. I had $3500 in options and overnight my $3.50 option was worth over $20.00 each. Within the next two weeks I was up over $80k in profit. Then bammm gone. If I only took that money out and paid my debts....20/20..So do I know dumb? You betcha !! I cant kill myself, I love my Mom and dog too much ! If it werent for them? You knows. Thanks again..and good luck to you also.

[scubaman]

Rtp

You are welcome..I love my family as well they have been my life preserver!