this post was submitted on 08 Feb 2010
31 points (75% like it)
46 up votes 15 down votes

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comments

mike_sol 34 points35 points 3 days ago[-]

Don't sign a goddamned thing unless you're 100% sure what it means. I'd call a lawyer and ask.

65kerensky 1 point2 points 3 days ago[-]

even with a lawyer, people go to jail for far stupider things. Make sure to go over everything.

fustercluck 10 points11 points 3 days ago[-]

Don't do it. Get a lawyer. Move out if you must.

jay_vee 18 points19 points 3 days ago[-]

My inlaws want me to hammer six inch nails into my testicles. They have a contract for me to sign and it all looks legit, but I'm worrying if this is the right choice.

purplehayes 4 points5 points 3 days ago[-]

Talk to a lawyer, he can get the nails reduced to half that length.

shortname111 10 points11 points 3 days ago[-]

based on what you have said, they want you to commit to giving them $800 a month for the duration of their bankruptcy. get a copy of the contract and contact your lawyer. DO NOT SIGN ANYTHING

bankruptcy_question [S] 3 points4 points 3 days ago[-]

We are absolutely not going to sign a form that says we are contributing any more than we are; there's no question about that part. I'm more concerned about the long-term implications. Are we actually becoming cosigners on the bankruptcy?? Could we be obligated directly to creditors for that $550 in the future? Blargh....

MDKrouzer 1 point2 points 3 days ago[-]

I'm probably way late to the discussion but is it possible that the $800 includes things like food and utility bills as well as rent?

dakboy 4 points5 points 3 days ago[-]

Don't even touch a pen. Call a lawyer. And don't sign a damn thing that says you're doing something you're not - if you're kicking in $550/month, don't sign a declaration that says you're kicking in $551 or $549. Bank records may be subpoenaed & checked - if you've got records that show you're paying $550/month, that's what you tell the state you're paying.

A quick search turned up this site http://www.california-bankruptcy.info/ which may help, but it may also be a front for "agencies" and lawyers specializing in bankruptcy filings, I'm not sure.

bankruptcy_question [S] 2 points3 points 3 days ago[-]

Yeah, I checked that site. All the sites I've seen so far are focused on the debtor and I haven't found a shred of info for a contributor. :(

unknownunknowns 2 points3 points 2 days ago[-]

Basic advice for life: Don't trust people who are bad with money with anything having to do with your money.

jellicle 2 points3 points 3 days ago[-]

"I'm not comfortable signing this; sorry."

hands form back to them, walks away

Don't sign things you aren't comfortable with. Duh. Especially don't sign things that are false and might get you into trouble. Double-duh. You didn't really need to make this post, did you? You already knew the right thing to do.

Also - unfortunate side effect - you need to look for another place to live. Seems like your husband's parents may have encouraged you to move in under, shall we say, false pretenses. That's no way to begin a landlord-tenant relationship.

bankruptcy_question [S] 2 points3 points 3 days ago[-]

I did need to make this post, for the record. I know how I feel, but I need it reinforced right now. Plus, I was hoping someone would say 'here is what this actually would mean for you, legally speaking,' which I have yet to successfully find. I think we know what we are (not) going to do, but I'd like to have a clearer understanding, nevertheless.

bankruptcy_question [S] 1 point2 points 3 days ago[-]

I don't think they had us move in specifically planning this or anything devious like that. I also think we can make the living situation work. We just have to be clear that we won't sign anything that is untrue and we won't sign anything we do not fully understand.

jellicle 6 points7 points 3 days ago[-]

Bankruptcies don't come on suddenly. YOU are surprised by this, but your inlaws were not.

Do not underestimate the treachery of old people. We no longer have strength, skill, or speed; but we do have treachery and guile.

bankruptcy_question [S] 1 point2 points 3 days ago[-]

We're not that surprised. His dad is really lousy with money. Before she passed away, my husband's mother managed everything. There's a lot he just never figured out. He ended up owing a lot in taxes at one point after missunderstanding the implications of her life insurance money too.

My best guess, knowing him, is that he does not understand what he's asking us to do, really.

AMerrickanGirl 1 point2 points 2 days ago[-]

Be careful what you sign. I have a (sort of clueless) friend "Carl" who got himself into a real mess.

He tends to leap into relationships, so he leaped into one with an older woman "Cherry" (he was late 30s, she was around 50) who owned a condo on the Jersey Shore. When she bought the condo it was worth around $250K.

As real estate prices climbed, the condo eventually became worth more than a million dollars since it's right on the beach, but Cherry just kept refinancing and taking out more and more equity until she ended with a mortgage of around $750K.

Somewhere along the way she cosigned a loan with a friend of hers and the friend defaulted, ruining Cherry's credit.

At this point her condo association made everyone kick in 60 grand each towards a new roof or something (this didn't sound right but I'm getting this info secondhand). Since Cherry had spent all of the money she took out in home equity loans, she needed to pull more money out of the condo, but since her credit was ruined she talked Carl into cosigning the home equity loan with her.

He didn't read the fine print and ended up not only on the home equity loan for $60K but on the deed for the entire mortgage, which means he's on the hook for half of the 3/4 million dollar loan ... and the condo is no longer worth what it was several years ago.

Did I mention Cherry is a violent drunk? Carl finally fled with his laptop and a change of clothing. Now he's seeing a lawyer to try and get himself out of this mess.

Don't sign anything without READING IT!!

FooHentai 1 point2 points 3 days ago[-]

There's no such thing as a 'declaration of contribution' so either this is home rolled, or that's the wrong term for the document.

Either way, the only thing you should be comfortable signing up for is a rental agreement for the use of their place, assuming you don't have one already. It should in no way have any relationship to his bankruptcy filings, or mention it in any way. Even then, if he's going into bankruptcy that's a scenario where your rental agreement could be rendered invalid.

If I were in your situation? I'd move out and find a place of your own, or share with someone else. Any money you're giving him right now will probably be siphoned towards the bankruptcy thing, so it's not like you're doing him a favour by being there.

FooHentai 1 point2 points 3 days ago* [-]

I guess the main thing to point out here if I haven't alluded to it enough is - Tell them you're not going to be involved in anything to do with the bankruptcy whatsoever.

After all, why would you? Whatever you do, don't believe the hype that bankruptcy is 'no big deal'. It's a big deal. You don't want any part of this.

EDIT: Just saw your last edit. Good for you. Stick to your guns and best wishes.

Imez 1 point2 points 3 days ago[-]

"says we're agreeing to contribute the specified amount for as long as they are in bankruptcy. So, even if we were to move, it seems we would have committed ourselves to this."

Have you said that part outloud to your inlaws? Can they be trusted if they say, "we won't hold you to this?"

And at any rate, don't lie on legal papers. Nothing good will come of that. What's your husband's opinion?

bankruptcy_question [S] 1 point2 points 3 days ago[-]

Absolutely not going to lie. That part is certain.

We haven't really talked to them directly. My husband's dad said he needed us to fill out a thing saying we were paying rent. That seemed reasonable (it's true, after all). My husband brought me the form to sign, I looked over it and am now concerned.

bankruptcy_question [S] 1 point2 points 3 days ago* [-]

Also, regarding the part about them being trusted not to hold us to it - yes, they can be trusted, but I'm not clear what the actual obligation would be - would they actually be able to release us from that obligation, or would we be obligated, legally, directly to the creditors or court? That's the real concern for me. At this point, we have decided we will not sign that form. I just hope they understand. :\

Mnementh2230 0 points1 point 2 days ago[-]

Sign a different piece of paper that says you're paying $550 a month in rent for as long as you intend to live there and no longer. Problem solved?

bankruptcy_question [S] 0 points1 point 2 days ago[-]

Yep. We met with the attorney today and that's exactly what we're doing.

silencer82 0 points1 point 3 days ago[-]

http://www.cacb.uscourts.gov/

Does this help at all? You can actually replace the "cb" with either "sb" for southern Cali and "nb" for norther Cali. The link above is central Cali.

DroppaMaPants 0 points1 point 3 days ago[-]

Why the hell would you want to sign that thing? What's in it for you?

[deleted] 1 point2 points 3 days ago[-]

Yes, this is what i was wondering, but moreso: what's in it for anyone?

I haven't seen any mention of how it would benefit the father, unless it was that it allowed him to create a legal obligation for his daughter/son-in-law to pay him future money.

What would need to be weighed would be the advantages of signing it (if there are any), the potential disadvantages, and whether or not people are sufficiently trustworthy to make signing it a wise choice.

meteors 0 points1 point 3 days ago[-]

There's a guy on KGO radio (http://kgoam810.com) named Len Tillem. He's a lawyer who provides free legal advice every day.

disinforeddit -1 points0 points 2 days ago* [-]

Aw shit, it's his dad for crissakes, oh wait it's not.. it's his wife. F her.

LOL.

momster -1 points0 points 3 days ago[-]

A signed lease would be more appropriate. It can be month to month, not annual.