Posted: 10/2/2009 1:33:51 PM EDT
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I'm asking this for a friend, His ex-wife ran up $120K on 22 credit cards then went chapter 7. This was about 18 months ago. Since then she has ran up a similar amount of debt and is 2 months delinquent on her mortgage. She cannot file again, so what happens??? I had lunch with this guy today, he asked and I did not know. edit: this is not me and my friend has been divorced for 3-4 years. He is going back to Court on custody issues. |
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Quoted: I'm asking this for a friend, His ex-wife ran up $120K on 22 credit cards then went chapter 7. This was about 18 months ago. Since then she has ran up a similar amount of debt and is 2 months delinquent on her mortgage. She cannot file again, so what happens??? I had lunch with this guy today, he asked and I did not know. edit: this is not me and my friend has been divorced for 3-4 years. He is going back to Court on custody issues. How could she possibly have gained access to another 120k in credit card credit when she filed a C7 18 months ago? I would not believe her story.' Anyway she cannot file bankruptcy again until 4 years have passed, then she can file a c13 I hope that your buddy is not a codebtor/cosigner on that mortgage. Why doesn't he obtain a copy of her bankruptcy paperwork? If he has a lawyer on his custody case (hope so) the lawyer should get all that stuff off of PACER. Any decent attorney is going to do that anyway. |
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Quoted: My understanding is that if you fuck up on a bankruptcy then all the old debts come back and the bankruptcy gets canceled. Errr probably not in any way relevant to this case. That can happen is the bankruptcy is dismissed before the debtor receives a discharge, or for a few other less likely reasons. |
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Quoted:
How could she possibly have gained access to another 120k in credit card credit when she filed a C7 18 months ago? I would not believe her story.' I thought there were certain credit card companies that targeted people who recently emerged from bankruptcy because they knew the debt could not be discharged again? Any truth to this? |
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Quoted: Quoted: How could she possibly have gained access to another 120k in credit card credit when she filed a C7 18 months ago? I would not believe her story.' I thought there were certain credit card companies that targeted people who recently emerged from bankruptcy because they knew the debt could not be discharged again? Any truth to this? Um, yeah, I kind of doubt that is happening as much as it used to with the credit/bank crisis. It used to be as soon as you got your discharge you could get a Capital One card with a couple hundred dollar limit. A few years ago a client brought in a summons, Cap One had sued him for a credit card he had not paid. The next day he called me laughing and said he knew he didn't have an appointment but he had to show me something. He came to the office after he got out of work and showed me a letter from Cap One. They wrote to him saying that they knew he had stopped paying on a card with them previously, but that they were willing to give him a new card anyways (swear to God, I kept the letter). |
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Shame on him. He a little slows on the trigger. What part of these family responsability does he manage. If he throws the check on the table and walks away he gets what he reaps. He should have ejected him long ago. I would have. I'll bet she is high maintenance, pretty face, great body, good lay, and a good arm rest in public.
I have a sister like this - parent bailed her out for $25,000 and than gave her and hubby $80,000 for a down payment for a home far beyond there means $450,000. Than she rack up $100,000 on credit cards debt, car loans and 2nd morgage loans . Know she may be looking at prison time for fraud for taking out credit in other peoples name that she got off the corporate databases at work plus she lost her job as a financual manager at a large bank do this conduct. As far as I am concerned she can do the crime she can do the time. I am highly pissed that she would use people data for her benefit and phoney lifestyle. What a Dirtbag Looser! I will not be provide her any money for defense to beat this case. I wish I could convince my parent of the same. I am sure they will bail her again. It least my father is adding this debt to the family will to offset the debt to the estate that she has cost them. At there age they should be living the good life not support a looser. Be she has this ability to wink her eye, wiggle her ass and say sweet things and she gets what ever she wants. |
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You guys did notice that she's an EX-wife, right?
He's not on the hook, at least. Unfortunately, any child-support or alimony money will just go to the creditors. He should definitely force the custody issue, since then the ex-wife will have to pay HIM child support, and that takes priority over pretty much everything else. As far as what happens to her, she's fucked. Garnishment of wages, foreclosure, and so on. Note that the banks are playing foreclosure games for as much as a couple of years before they actually boot anyone out nowadays, so her best course is probably to quit paying the mortgage, use that money to pay off other debts, save enough to put a deposit down on an apartment, and wait until she gets forced out. How long it takes is going to depend on how much equity, if any, there is in the property, and what the market is like in her area. The above doesn't constitute legal advice. |
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Quoted:
wow how do you even get 22 credit cards and then get more after filing for bankruptcy 
That's what I'm not understanding. She must have landed a great job after filing the BK to then be able to get so many new cards, all with credit limits high enough to reach that level of debt in such a quick time. If she had her job when she filed, why wasn't it a Ch. 13? Something's missing in this story. 
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Interesting, however I have NO CLUE as to how she could rack up suck a debt , unless as the other poster mentioned, she got a very good job , and enough CC companies offered her new cards.
Additionally , in some cases people go out , apply for a significant number of cards at the same time & get them, and run them all up under a month. |
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Quoted: OhQuoted: Just because they are divorced does not mean he is not a cosigner on that mortgage if it is the former marital residence. That's why you're the lawyer and I'm the 2L.  How's the rest, though??  Ha, yeah you did okay. At least in my state all too often lawyers do not explain that although in the divorce the spouse has to pay the mortgage (or credit cards or whatever) that is just a contract between the parties and not binding on the creditor (as you are well aware). So the husband in this case probably is still on the hook for the mortgage unless the wife refinanced it solely in her name, or bought it after the divorce with just her credit etc. That's really a shitty deal for a lot of guys. Not only do they have the potential debt hanging over their head, but if it is not refinanced it still shows up against their credit, even if the wife is paying it. Makes it tough for him to buy a new house. |
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OhQuoted:
Just because they are divorced does not mean he is not a cosigner on that mortgage if it is the former marital residence. That's why you're the lawyer and I'm the 2L.
How's the rest, though?? Ha, yeah you did okay. At least in my state all too often lawyers do not explain that although in the divorce the spouse has to pay the mortgage (or credit cards or whatever) that is just a contract between the parties and not binding on the creditor (as you are well aware). So the husband in this case probably is still on the hook for the mortgage unless the wife refinanced it solely in her name, or bought it after the divorce with just her credit etc. That's really a shitty deal for a lot of guys. Not only do they have the potential debt hanging over their head, but if it is not refinanced it still shows up against their credit, even if the wife is paying it. Makes it tough for him to buy a new house. And thats why I sold the house and split the cash before filing for divorce.
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