No more than $2000? YIKES!

[JETX]

One thing that a lot of people seem to keep forgetting. Social Security was NEVER intended to proivde 100% of the retired expenses. It intended to be a SUPPLEMENT to the savings that a person was supposed to maintain on their own. Each and every one of us should plan on providing for our own retirement (I have.... and it hasn't been easy!!). And yes, when time comes to collect my social security, I will be the first in line. But, with any luck, I will NOT have to rely solely on that to live on.

Simply, too many people are living beyond their means. And in some cases FAR beyond.

And yes, some people get dealt a bad hand in life. And for those, there are usually some social relief programs or even bankruptcy available for them to consider.

 

[gr8minds]

to: ladynred, bigun, worrywort, dcw888

Thanks to all of you for your advice and opinions. I appreciate all of your comments and well wishes. Thanks so much to ladynred for doing the exemptions research for my state!

My head is spinning with all of this and my Mom is constantly on the phone crying about the situation she got herself into. She is embarassed and ashamed. But she's not a bad person and believe me, does not live a life of luxury. An occasional plane trip to visit relatives in Florida is about it. She is diabetic, legally blind, high cholesteral and blood pressure. Her health insurance is $100 per month and she still has to pay for most of her prescriptions. Rent is outrageous here in NH. A one bedroom apartment (that isn't a dump) will run you about $600 per month. The move to Florida will be better for her. She will not be going into an assisted living home for hopefully a long time. What I was talking about was simply senior housing which has a waiting list of usually a year +. If my neice can make payments on a modest mobile home and my Mom can pay for her personal needs and occasionally throw my neice a few hundred dollars towards the mortgage... perfect! Then there is the cost of a UHaul to get her stuff down there, utlities to be turned on, etc. I think she'll still want cable TV and I think that's okay. I'm already seeing her money being chomped away.

As I said before.. $6000 is not a lot of money.

I am not sure what I will do. I've got lots to think about. May I ask a question though? Will her bank records be pulled for this proceeding? My name is also on her checking account. Perhaps a few thousand of those dollars was money that I have saved over the 10 years since she put my name on her account (in case something happened to her, so I could access it.) I could be thinking of withdrawing "my" money and putting into my savings account instead.

As for JETX... you seem to be stuck on this mobile home! She is only going to contribute $2000 towards the downpayment and she will be paying for any repairs that need to be done while she is living there. My niece is buying this FOR my mother to live in, and as an investment for her and her husband. My Mom will have absolutely no ownership. My neice doesn't have the down payment and my Mom is simply going to "gift" it to her so she has a decent place to live. She feels this is the least she can do for her granddaughter who is doing so much for her.

Thanks again for EVERYBODY'S help! You guys are great. I'm glad I found this forum.

 

[juliedealer]

I am appalled by JETX's responses. I wont frequent this board just on the basis of this thread, and I've seen far too much of this guy (gal?). If I needed hear somebodys condemnation of trailer ownership I'd watch Jerry Springer.

 

[gr8minds]

Thank you Juliedealer. I was being kind regarding JETX's comments because I'm new to this forum.

 

[JETX]

"you seem to be stuck on this mobile home!"
*** Not at all. I am 'stuck' on the fact that, as bad as she might have it, with a few thousand bucks in the bank and $1700 a month income, she is in far better financial position than a LOT of people who post on this site. And, in my opinion, should NOT be filing for bankruptcy and leavinv all those debts that SHE incurred to the rest of us.

And I can't help noticing that you seem to have 'minimized' the bankruptcy issue and now hit all the 'emotional' notes....

In any case, best of luck to her.... and I hope that the bankruptcy court (if you do continue with the petition) will view it in the correct way.... whichever that is.

As for juliedealer.... I couldn't care less about your being 'appalled'. Since you seem only concerned about my issues with the trailer purchase, you are obviously one of 'them'. I have only one thing to say about your leaving.... bubbb-byyyyee and take your trailer with you!!

Ya'll have a good happy.

 

[Ladynred]

Will her bank records be pulled for this proceeding?

No, but expect the Trustee to ask for a LEAST 3 month's worth of bank statements. The one that really counts is the statement that covers the day the BK was filed. Pro Se filers are often required to produce more backup documentation - bank statments, tax returns, etc. Since your mother is the one who is going to have to be at the 341, make sure she knows EXACTLY what's on those forms.

My name is also on her checking account. Perhaps a few thousand of those dollars was money that I have saved over the 10 years since she put my name on her account (in case something happened to her, so I could access it.) I could be thinking of withdrawing "my" money and putting into my savings account instead.

If you have PROOF that the money you take out is YOURS ,and not hers, then be prepared to show it. Taking the money out at this point probably isn't a wise idea.

If you need to be able to access your mother's funds for emergencies, rather than putting your name on her account, get a power of attorney - it'll give you all the right of access you need if its written correctly.

I hope you're at least considering a consultation with a BK lawyer on the application of those unused exemptions.

Good luck, hopefully you can get your mother some peace of mind. The elderly have enough to worry about from day to day without being abused by slimey debt collectors. FYI, FL has some excellent elder car laws to protect the elderly from all kinds of nasty things - even harrassing debt collectors !

 

[theother]

I guess I'm missing something here. Are you saying her income is 1700/mo NET? That doesn't seem like such a hardship. I've lived on that amount of money in the past and I lived in San Diego where a decent one bedroom apartment would run you (at the time) 900 dollars a month. Oh, and my mother is an elderly diabetic but she lives within her means and her means aren't 1700/mo take home with 6k in the bank, I can tell you that. I don't wish you any ill or anything and I can understand her concern about her debt load, but I'm not sure that someone bringing home that amount of money is in danger of eating cat food as you say. I guess I just think that the elderly should pay their bills like everyone else and I'm not sure why that should be considered insensitive. Would you tell a poor thirty year old that they should just try to wait out the SOL? Oh, and I'm really confused by why a person who is so in debt and considering bankruptcy would take out a brand new 1400 dollar loan when she has 6000 in the bank. Maybe it's just me.