Will they believe me I sold most of my property?

[budman66]

My question is that I am going to pursue bankruptcy. I had debt with a much higher income, lost my job of 17 years was on unemployment for 6 months and now at a job half of what i was getting before. I meet means testing since I am below the median for my state.

I have made no charges within 90 days and no cash advances. My unsecured debt is over 70k . I have always made the minimum payment amounts and have not been late even with loss of job. I am pursuing bk since with the intrest they are charging i could never pay them off and recently i got hurt and am short term disability so i can not sell any more of my possessions or get a regular work check.

My question is that my charges for 2006 and early 2007 were mostly items off ebay and from online dealers, where I sold items on craigslist to make money to help cover bills...seems dumb i know...charge something...make even 100 percent profit ...but then not really paying for it with credit....anyway...I sold most the property i intended to sell... stereo equiptment, musical instruments, bicycles...and now i have a spartan home...and all of these items are gone....to buy food, pay bills, and pay these credit card companies....

My worry is not having bill of sale on these items and i worry that they will think im concealing assets or something...
They can come to my home...i have no big screen tvs....and just basic furniture...and most of my sales were at a loss in order to immediately pay bills etc......

i always sold from craigslist because it is free and not ebay...so i have no record of these sales since they are so old...so im so so worried....

any help please!! i dont want my attorney or the trustee or judge or whatever to think im a liar since i charged so much and not having nothing to show for it....


please help with any advice

[lrprn]

Welcome to BK Forum, budman - glad you found us! I moved your thread to the General Bankruptcy area - you'll get more responses to these questions of yours there.

any help please!! i dont want my attorney or the trustee or judge or whatever to think im a liar since i charged so much and not having nothing to show for it....

They won't think that. Most of who did buy store items with our credit didn't save the receipts. Trustees typically don't care how you got into debt. They care how you spent your money only if it looks like you are trying to hide assets or took money fraudulently knowing you were going to file bankruptcy. Your job loss and current disability tells your tale if anyone should ever ask (and I very much doubt anyone will).

We can help you sort things out better with a little more information. What state are you in? Are you married? Any kids or other adults living with you? If you look back six months, what is your total income from all sources? What kind of disability are you receiving?

Again, welcome! We're here for support and venting any time you need it.

[SinkingFast]

Many of us start selling off property to pay bills when we realize we're in over our heads. Documentation is the key to a smooth filing with the BK Court.

If you have sold any bigger, pricey items, I would dig around for the Bill of Sale receipts for those sales. And check your bank statements to be sure the Sale $$$'s line up with a corresponding deposit. Just makes things go easier if you disclose those types of transactions up front and have documentation.

We sold a truck to pay income taxes. Gave our attny the Bill of Sale, that month's bank statement showing the deposit, and a copy of the Cashier's Check made out to the IRS.

Earlier, I sold my diamond earrings and wedding ring. Same thing. Gave our attny the Bill of Sale, corresponding bank statement that showed the deposit coming in and bills being paid out.

Our attny disclosed all similar types of transactions in our BK paperwork and supplied the underlying documentation. The better you document to back your explanantions, the smoother your case will go.

[HenriettaHen]

Oh, the icky process of sorting out your paperwork. The Worst.

Just get a mood on, and sort. (It might take a few tries, ending in ... more sorting. OUCH! )

Do not despair. Be businesslike.

Organize.

File.

Copy.


Quite tedious, yet a smart slap in the face.

We feel your pain.

[budman66]

I am in colorado, single, never married, i have 2 children 3 and 1, who had been living with me 2 days a week ,but since i had leg surgery 2 months ago they have been with their mother. my total income for last 6 months was under 6k. I am on short term disability but recently came back to work 2 weeks ago since my employer let me have a desk job...so I can get more pay than the disability payments.

most of the items sold were up to 500 and i sold a few guitars at 1k put i have no documentation since they were cash deals from craigslist.....which btw is a good way to sell stuff and quick.....and is free....

Thanks for the support...i have felt so bad.....and this has effected me physically , mentally , and caused much stress to my children..since my 3 year old told me....the other day...daddy why are you always so sad or mad.....and that was enough for me......

i haven been in debt for 7 years...and they kept giving me more credit.....and only with the job change and injury did i find i couldnt make the minimum payments....

[follie]

do you still have the emails from craigslist showing you listed them?

[CityGirl]

Are you serious??? I went over that with my BK Lawyer and he said the Trustee will NOT care.
He has too many other things to worry about and is way overwhelmed by the filings that he can't be articulate. He just wants to process them and get them off his desk. OH wait, I'm filing a 13 and maybe that makes a difference?

[budman66]

I am dead serious and am worrying about everything .......All those sales were 4 months ago...and all emails deleted. and the cash was not desposited and was used to pay my utilties and buy groceries and pay my rent , I used my direct deposits from work paychecks to pay my credit cards, since i paid online and those payments came from my checking account . I guess im worrying about them scrutinizing my account and seeing that all of my checking withdraws were for credit card payments and no withdraws for food or utilites or rent. I was thinking well...they might think someone is helping me....if there isnt any withdraws for groceries etc.....I was thinking i have nothing to worry about...since I am being honest...but worried i could get some trustee that could make my life more difficult. So I am kind of worried that they would dismiss me for something. I am just going through with it..and deal with whatever happens.....i guess its fear of the unknown....i think the amount of my property is near or slightly over the exemption amount..not considering my cars.... i have 4 cars....and the most valuable car is a sedan over the colorado exemption amount that i hate to lose since its the only vehicle i can transport my children in, my truck is a work truck with no airbags or anything....so i will probably lose it, another is a vehicle that is not operable due to friend wrecking it, and finally i so sincerely dread losing is a car that i have had for 25 years my first car from highschool...a classic mustang...its not restored...but i am going to have to come to ends that it will probably go..it makes me so so sick....I really hate myself...and blame myself....

[budman66]

i guess my total sales over a 6 month period were around 5k...including garage sales every couple weeks and selling all of my valuables.....and i guess thats nothing considering ive been in debt for 7 years...and now amassed the staggering debt of over 70k...some of those years were also helped out...by a girlfriend who helped out with home shopping network addiction...but i am just as much to blame.....shes not around anymore..tho....and left me with the bills...of course this was 3 years ago tho....

[keepmine]

Relax! Nobody is going line by line over your cc statements or bank statements. You won't be the first to sell personal stuff to try and and supoort yourself. Plus, trustees really have little interest in used consumer goods. These sales are nearly a year old. Don't sweat it.

[budman66]

thanks everybody.....my appointments with 3 different attorneys are on monday....wish me luck!

[HenriettaHen]

Here's to you,BudMan

Just do your homework and ... tell the truth. This unwelcome realization that you are bankrupt ... will eventually make you finish evolving into who you truly are.

That's the "fresh start for an honest debtor" part.

But you gotta organize your head and write it down if you don't have receipts.

You're doing that now, good on you!

[budman66]

Thanks...so much..just so so worried....and afraid of the unknown....

[demismom]

We sold all of our business inventory (we buy and sell antiques) just to pay our monthly bills and told the Trustee up front just that. He didn't seem to care.

[Boscoe]

So Budman, how did the attorney meetings go? Yours sounds like a classic ch 7. You should be discharged no problem 90 days after you file. Just get a good attorney, give them everything they ask for that you can, go to your 341 meeting and you should be fine.