Mist Mostly Mightily Blames Other People or MMMBOP for short.

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hodj

hodj

Vox Populi Jihadi
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Not even a litttle bit retard my comment was on the success of my thread, and had nothing to do with your headmate
 
Cad

Cad

scientia potentia est
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Why would you undertake to pay off her credit card bills rather than let her go into bankruptcy?
 
iannis

iannis

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They probably can't take the house. In fact, if it's only credit cards I'm sure they can't.

All your mom -really- has to pay is the mortgage, the groceries, and the utilities. Servicing her debt is optional. 25% is usury. Legally it isn't, and thank you Mr. Bush, but it's usury. While there might be some lingering social ethic to not default -- fuck the jews. Offer a fair rate. This scheme cannot sustain itself.

The upside is that if that happens, no one will give your mom a credit card for about 5 years.
 
iannis

iannis

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They will THREATEN to take everything. Empty.

Unless a deputy shows up at your door. If you did that it would be about 3 years of weekly calls from people pretending to be lawyers. And if that happens it'll go in front of a magistrate. There are federal laws against home seizure for credit card debt.
 
Mist

Mist

REEEEeyore
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They can't take the house, but they can put liens on it, which means I'll never get the money when they're dead, which can't be that far off.
 
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Mist

Mist

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I'm going to try to reactivate the SBA loan that was offered after the flood. That's pretty much my best shot at this point.
 
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hodj

hodj

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Kill mother hide body under new house say she moved back to wherever the fuck it is you live now i cant remember profit
 
iannis

iannis

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At about the five year mark they will start to call offering deals. The debt will have been sold multiple times at that point, and the guy that far downstream will be looking for 20% or so. Taking that deal, still optional, does at least relieve some of the stress of it. Doesn't do anything for your credit.

I've had family go about 20k in the hole. It's not pleasant to deal with... but the real thing is to keep your old phone number that they have on file so that they have somewhere to call and don't look too hard for a new one and then get a new one for -everything- else. And if they start to call you at work then you have to play along long enough to get contact info from them and then sick the county/state on them.
 
Mist

Mist

REEEEeyore
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Iannis_sl said:
At about the five year mark they will start to call offering deals. The debt will have been sold multiple times at that point, and the guy that far downstream will be looking for 20% or so. Taking that deal, still optional, does at least relieve some of the stress of it. Doesn't do anything for your credit.

I've had family go about 20k in the hole. It's not pleasant to deal with... but the real thing is to keep your old phone number that they have on file so that they have somewhere to call and don't look too hard for a new one and then get a new one for -everything- else. And if they start to call you at work then you have to play along long enough to get contact info from them and then sick the county/state on them.
Click to expand...
She's been through this process once before, so don't really need the explanation, but thanks.
 
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Cad

Cad

scientia potentia est
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Mist_sl said:
They can't take the house, but they can put liens on it, which means I'll never get the money when they're dead, which can't be that far off.
Click to expand...
Mist they can't place liens on debts post-petition, so just get to file BK prior to them filing suit and getting a judgement lien against your property and those debts will be washed by chapter 7.

Pre-petition liens will remain to the extent there is extra equity in the house.
 
Palum

Palum

what Suineg set it to
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Cad_sl said:
Mist they can't place liens on debts post-petition, so just get to file BK prior to them filing suit and getting a judgement lien against your property and those debts will be washed by chapter 7.

Pre-petition liens will remain to the extent there is extra equity in the house.
Click to expand...
Buh buh her mom's credit score!!
 
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