Credit affect after bankruptcy and foreclosure

[Anonymous]

Hi everyone, so even though this answer may not be my business but I'm gonna ask anyway. I know someone currently whose home has been in foreclosure for maybe 9 years, one minute she's paying, the next minute she stopped, and she filed bankruptcy. she told me a few months she filed Ch 13 bankruptcy and is trying to get all her credit cards discharged that she owes like $180,000 all together because she stopped paying those too and her mortgage balance of under $1.5 million which was $995,000 originally plus late fees and missed payments. But what I don't understand is just recently like two weeks ago she leased a brand new Mercedes S550 with a price tag of over $100,000, how could she have gotten a lease of a car while she is in this disaster?? sorry it's long

[despritfreya]

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@Anonymous wrote:

I know someone currently whose home has been in foreclosure . . . and she filed bankruptcy. (S)he told me. . . she filed Ch 13. (She owes credit card debt of $180,000.00) and her mortgage balance of under $1.5 million. . . (T)wo weeks ago she leased a brand new Mercedes S550. . . (H)ow could she have gotten a lease of a car while she is in this disaster.

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This person is probably not telling you the truth.

If she filed a Chapter 13 with secured debt in excess of $1,149,525 she won’t be in it for long as she would be over the debt limit for a 13.  (You indicated that she owed under 1.5 mill on the home so I assume she owes over $1,149,525 and is not eligible for Chapter 13.)

If she leased a luxury vehicle while in bk she probably committed fraud by lying to the lessor about her finances. If she stays in bk (doubtful) the court will deal with her for this action.  If she fails to make the lease payments the lessor will have fun too.

If you are really curious as to what she filed, go to www.pacer.gov and sign up for a PACER account. You can then pull up her case (assuming she did file) and see what is going on.

Des.