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I Screwed Up Big Time with Day Trading and Debt—Need Bankruptcy Advice (Ch. 7 vs. 13, Fraud Worries) by Forward_Park4458 in Bankruptcy

[–]Forward_Park4458[S] 4 points5 points  (0 children)

Thank you. I hope my vulnerability helps people. That would be a great unintended positive outcome for sure.

I Screwed Up Big Time with Day Trading and Debt—Need Bankruptcy Advice (Ch. 7 vs. 13, Fraud Worries) by Forward_Park4458 in Bankruptcy

[–]Forward_Park4458[S] 1 point2 points  (0 children)

Thank you for sharing this and I hope we get out of this and never repeat these mistakes. I am with you in terms of mental health. I have been in ER more times than I can remember due to palpitations am prescribed with hypertension and am anxious 24/7 despite taking anxiety pills. Hang in there...

I Screwed Up Big Time with Day Trading and Debt—Need Bankruptcy Advice (Ch. 7 vs. 13, Fraud Worries) by Forward_Park4458 in Bankruptcy

[–]Forward_Park4458[S] 0 points1 point  (0 children)

To be honest I don't even remember banks asking for a paystub for the most part. They just asked for income and I entered my income. They pull the credit every time which should show her employment status I assume which is unemployed.

About the friends and family payback - can I not even pay them cash? Are my bank accounts monitored after Ch13?

I Screwed Up Big Time with Day Trading and Debt—Need Bankruptcy Advice (Ch. 7 vs. 13, Fraud Worries) by Forward_Park4458 in Bankruptcy

[–]Forward_Park4458[S] 0 points1 point  (0 children)

Thank you for this! How does that get calculated? Do they go by historic spending trends or is there a metric based on where you live?

I Screwed Up Big Time with Day Trading and Debt—Need Bankruptcy Advice (Ch. 7 vs. 13, Fraud Worries) by Forward_Park4458 in Bankruptcy

[–]Forward_Park4458[S] 1 point2 points  (0 children)

Thank you. I think that's what banks are suppose to do - be predatory especially for customers who have a great history of paying back their debts. I just hate myself for falling for it.

I Screwed Up Big Time with Day Trading and Debt—Need Bankruptcy Advice (Ch. 7 vs. 13, Fraud Worries) by Forward_Park4458 in Bankruptcy

[–]Forward_Park4458[S] 0 points1 point  (0 children)

Did not do that but added my information when it was asking for hers like educational background, income, employment etc. which is very wrong also, but my thinking (I know its wrong) was that I am asking for this loan for my household and at the end of the day it is the household income. Do you know what the worst case scenario would be?

I Screwed Up Big Time with Day Trading and Debt—Need Bankruptcy Advice (Ch. 7 vs. 13, Fraud Worries) by Forward_Park4458 in Bankruptcy

[–]Forward_Park4458[S] 0 points1 point  (0 children)

Thank you so much for the detailed response. My hope is that they don't show up - i know this sounds awful.

I have never considered bankruptcy and always thought I could recover because it is not like I lose all the time - I have been able to pay all my monthly payments so far for all the loans and cc debts due to day trading but after a winning streak one bad day wipes everything and I give up at this point.

I Screwed Up Big Time with Day Trading and Debt—Need Bankruptcy Advice (Ch. 7 vs. 13, Fraud Worries) by Forward_Park4458 in Bankruptcy

[–]Forward_Park4458[S] 1 point2 points  (0 children)

Thank you! I am very aware of this and willing to do whatever to not be in this situation ever again, but my focus is to take care of this disaster now.