Debating next steps

[Anonymous]

@creditinspired, I’m debating reaching out to someone else in my family and discussing it. Im so torn though.

You did bring up something I want to ask. By filing, and I really, truly, claiming these debts as mine? In the eyes of the creditors or future creditors or banks, am I really, saying this is all debt I racked up?

I thought, I might be able to rebuke or notate that fraud was involved in the future.

It would look pretty bad trying to explain this away years from now when getting a mortgage or something

[Anonymous]

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@Anonymous wrote:
My biggest concern is the amount of money involved. There are two cards with Citi Alone that total almost $26k.

I just feel like, because it’s not a few hundred dollars or a few thousand bucks, the police will insist or press me on pointing a figure. And even if the police overlook, or I refuse to answer the question — I also wonder to myself, will the banks make me name a culprit or give me trouble? There’s not a lot of information about what happens in these circumstances.

I know I’m in the wrong here for wishing to let a certain person walk away from this. But, at the same time, they were also a very big part of my life. You don’t just turn on certain figures, no matter what the circumstances are.

I’m really thinking about trying the local police department and seeing what they would require for a report. Like I said, if anyone has any first hand experience or information, please let me know.

I really appreciate your response in particular Robert.

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The police now days really are  not that great.  Read my posts sometime about some one trying to steal our Jeep  Rubicon worth $20K.    The perp dropped his wallet in the Rubicon and they still did not arrest him.    The address on the statements say a lot about who did it.

As long as you tell the trueth you have nothing to worry about.  1) If they did it once they will do again. Do you very few years want to let this person ruin your credit. 2) Imagine in a  few years you want to buy a house, car or rent an apartment but can't. 3) Imagine getting into serious relationship  You will have to tell the person we can never use my id because I  have a relative who regularly ruins  my credit.

Citi and who what ever cards will take it at face value with a police report they will not beat you with a rubber hose.  I let a relative spend a few a little time in jail and have no issues with it for id thieft.     

In Bk some of the trueth could come out and you could dig  yourself into a deep hole.   I do some fraud work asset recovery for very large cases of bank fraud where people lied about millions of dollars. If I saw this in a bankruptacy case I would start digging  and would encourage the bank to fight you tooth and nail in bk court. With a police report i wold tend more to believe the story.     

[CreditInspired]

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@Anonymous wrote:
@creditinspired, I’m debating reaching out to someone else in my family and discussing it. Im so torn though.

You did bring up something I want to ask. By filing, and I really, truly, claiming these debts as mine? In the eyes of the creditors or future creditors or banks, am I really, saying this is all debt I racked up?

I thought, I might be able to rebuke or notate that fraud was involved in the future.

It would look pretty bad trying to explain this away years from now when getting a mortgage or something

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Yes! When you file BK, you are in effect saying the debt is yours and that you cannot pay it back. And, this is not only in the eyes of creditors and future creditors, it is in the eyes of the law.

Think of it this way. If someone could just say a debt is fraud (with no police report) and file BK, people would be knocking others over "running" to the courts to get rid of their debt.

Also, keep in mind that depending on your income and/or assets, you would be filing either CH13 or CH7. An extracted definition I Googled is below to give you an idea: 

Chapter 7 bankruptcy is sometimes referred to as "liquidation bankruptcy" because qualified individuals are able to completely clear out certain types of debt, such as credit card balances and unpaid medical bills. When a person claims Chapter 7 bankruptcy, he must agree to sell any non-exempt assets to help pay creditors. Individuals above a certain income level cannot qualify for Chapter 7. 

Chapter 13 bankruptcy is also known as "reorganization bankruptcy" because it is designed to help create a way for someone to repay their debts rather than get rid of them. Many people choose to claim Chapter 13 because it allows them to retain assets like their home and vehicle. This type of bankruptcy is most beneficial for individuals who have fallen behind with creditors, but can afford to pay some amount toward reducing their debt each month. Only individuals and sole proprietors may file for Chapter 13.

If you decide to take this unfortunate route, because it cannot just be explained away, this would literally be a 7-10 year credit sentence for you, so-to-speak.

[CreditInspired]

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@Anonymous wrote:
My biggest concern is the amount of money involved. There are two cards with Citi Alone that total almost $26k.

I just feel like, because it’s not a few hundred dollars or a few thousand bucks, the police will insist or press me on pointing a figure. And even if the police overlook, or I refuse to answer the question — I also wonder to myself, will the banks make me name a culprit or give me trouble? There’s not a lot of information about what happens in these circumstances.

I know I’m in the wrong here for wishing to let a certain person walk away from this. But, at the same time, they were also a very big part of my life. You don’t just turn on certain figures, no matter what the circumstances are.

I’m really thinking about trying the local police department and seeing what they would require for a report. Like I said, if anyone has any first hand experience or information, please let me know.

I really appreciate your response in particular Robert.

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@Backwood's post above has first-hand experience.

[GApeachy]

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@Anonymous wrote:

 I'm not willing to pursue or point the finger at the culprit. I just can't. 

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Why? Are others telling you that would be bad? (guilt trip?)  If so, are these other ppl willing to help with the debt?  If not, have you confronted this person and demand him/her to right the wrong?  If so, is this person willing or unwilling to correct his/her mistake?

Don't allow yourself to be a victim twice........give everyone involved an opportunity to save your name and credit.(your future)  If it's not their concern and then why should it be yours?  Save yourself.

[Revelate]

Pretty much what others have said, the concept of people you don’t turn on is null and void by the fact they already turned on you.

I suspect the bridge is already burned unless as others have stated you want to continue being their piggy bank.