Any hope for me...

[anonymuse]

I'll politely pass on any comments in regards to your intentions and just bite my tongue and just try to answer the obvious questions and provide a few you need to find the answers to.

This is under the Ch 7 thread, so it appears that you want to discharge it all.

Questions to answer to yourself:

How much equity do you have in your house? Is it under the homestead exemption for your state?

What is your income in comparision for the median income in your state?

Do the means test for yourself.

With spending all of that money, the courts will think that you have to have assets somewhere--whether cash or physical assets. You'll have a hard time proving everything is exempt. And the trustees can (and probably will) go look back further into your bank statements.

Don't go flaunting the gambling thing, but sign up for GA so show good faith in stopping the behavior.

The 13 months between cash advances and charging is on your side.

Not sure if you have $40-50K "lying around" or you used it all up on paying minimums.

Go have consultations with many lawyers to get a good perspective on things--they're free. If there is cash lying around somewhere, make sure you save a good chunk for a good lawyer--it's not a time for budget shopping.

[luckylady]

I don't blame you for your feelings about what I've done. I sort of snapped and made some very rash decisions about the cash advances. Once done, I did feel like dirt, but the downward spiral was moving much faster. I didn't want to put the money back and end up filing and run into lots of problems and not have any money. Total cash advances were roughly $40K and I've used more than $20K on minimums plus paying off some other credit accounts I had (sprinkler system, home improvement store, 401(k) loan). I've also been using the cash for living expenses and car/house payments, and medical bills, we're short every month. I was trying to turn it around, but I had already created a monster. I've gone back and forth about trying to dig myself out of debt, but I don't see any realistic way now. Credit counseling would laugh if I called them. The cash went faster than expected and we've made ZERO big new purchases. I have a 2000 truck that we owe $19K on and an older model vehicle (1997) that's paid for. We even still have the same TV from our first apartment and I work for a company where I can get a discounted TV pretty cheap. I don't want any sympathy, but we are rolling around in a new Benz and living in a mansion. Just made some very bad decisions. That's why I've waited so long.

[luckylady]

correction:

I meant "AREN'T rolling around in a new Benz".

Answers to earlier questions: No equity in home, $50K salary, never have any money in our bank account because as soon as it arrives, I have to pay house/car/daycare. Most of the time we are negative when check arrives or I stick some cash (from our "shoebox") in our account.

[catwhisperer]

Why it's worth your attention? Just answer the question or not. I can take all the name calling and comments, but I was unaware I needed to stand up and say my name and state I have a problem on this site. I thought it was a question and answer forum. I think it's obvious I have a spending problem. Like I said, I deserve it, so blast away. I don't think I will have the opportunity to spend like this once all my cards are gone.

I think you answered your own question. I know someone with a similar problem that they WANT someone to yell and scream at them and call them bad things. It won't work. Then you can say, see what a lousy person I am. You seem to be looking for punishment. I think the money isn't the problem, it is the symptom. You know what may give you more self esteem and a solution is doing something about the ROOT problem. I know that my BK was caused by a ROOT problem- not the economy, someone else. Once our BK is gone, since I have addressed the root of the problem, it won't happen again. Learning to take responsibility and accept responsibility is the best thing,not the bk. It is to give you a fresh start but not to do the same thing again that caused the bk.

[luckylady]

Wow! Pretty deep. I don't know if it's that extreme about wanting someone to yell at me. I'm actually pretty happy. I have a great wife and kids and we've actually managed to not argue too much while discussing our options (even with the kids going nuts). I fully admit I have a spending problem (so do a couple of other family members in my family) but I don't know what it stems from. I really don't WANT anyone screaming at me, I just said I understand and can take it if people want to comment and call me a low-life. I know my situation has turned into something that no one would be proud of. I just wanted to know my options. Do I just stop paying, move to Jaimaica and rent surfboards under a new identity? Or is there a way out? I just needed answers and this seems by far like the best place I've found. No offense taken.

[aa06a47]

Bobby'sgirl, Sometime the truth is a bitter pill to swallow. Sometime people let it all hang out as you put it. I have had to swallow that pill myself, and knowing the truth, even if it comes from strangers, has probably helped more to clear my foggy brain than anything else.

With that said, from what you said, you were not defrauding, you were trying to survive. There is a difference, IMO, (at least morally) in doing what you did. I don't think you took out 40K in cash advances and stuff the money in a pillow.

LuckyLady will fly under the radar, and make it through the courts just fine. Since it is over 1 year since the last charge, the credit card companies will not even look at it. The trustee may want to know where the cash went, but I doubt it since it has been so long. I even doubt it would raise a flag with the us trustee.

It is hard to sugar coat fraud. Sorry if comments made offended you in anyway, but ladyluck has a picture of her next to the word fraud in the dictonary. (i'm doing it again)

With that said, luckylady needs to get the bk over with and learn from the mistake. There is not really a whole lot of advice anybody can give at this point....except listen to what the lawyer says.

[anonymuse]

Lucky Lady, Can I go with you to Jamaica? I've never done the tropical/beach kind of vacation (Cape Cod doesn't count.)

Another person was asking about what to pay and what to slide. You might be interested in this discussion:

http://www.bankruptcyforum.com/showthread.php?p=50514

[newday]

What are you going to do if a bankruptcy does clear those cc debts? You say that you still come up short each month. Look at your budget and start trimming, or else you'll be back at breaking point again real soon.

[SinkingFast]

What are you going to do if a bankruptcy does clear those cc debts? You say that you still come up short each month. Look at your budget and start trimming, or else you'll be back at breaking point again real soon.

Very good point, New!

I said something similar to one attny at the end of our Consult. Even without the CC payments we still had more month than money. The attny said if that was indeed the case, then we had a bigger problem than filing BK could fix. In our case, selling our truck helped a ton toward making ends meet at the end of the month. Between monthly payment, insurance, gasoline, and maintenance, simply selling the truck freed up nearly $500/mo.

Lucky,............ You need to step back and look at your financial situation with a fresh set of eyes. Like a complete outsider.

Is your house a financial money pit?? Are the payments so much that with insurance and repairs, it's sucking you dry?? If so, sell it.

Can you sell the vehicle with payments on it to get rid of the payment and free up $$$'s/mo? Buy an old beater paid for in cash to get you around until you get on your feet.

Do you make impulse buys at the grocery or other times when you're out shopping? $10 here and $20 there can add up pretty quick.

I'm not saying sell your house before BK or trade in the truck before filing BK. These are just some things you need to look at for adjusting your spending habits post BK.

BK will take care of the debt you incurred to this point. It won't fix the problem that you got you into this financial situation. If you do not make adjustments to your lifestyle, you're gonna be back in the same shape, without the safety net of CC's, and without the ability to file BK again for many, many years.