[agarrett]

  Since this was a friend, you may not know all the details, but some things seem off there. How was the guy able to withdraw the 401(k) money? Couldn't he recover it from the bank / incestment center, as it was their error giving the money to the wrong person?

  For that matter, why did he need to declare bankruptcy to clear the debts? Again, it was the credit card companies' error, not his own debt. Couldn't he clear that?

  Just if you know the answers, I'm curious.

Drew Garrett

[GrandEagle]

That was my first response too. Here is what I was told when I asked the same questions.
As far as the folks at the 401(k) know they gave the money to him. The cars were purchased with new loans, again, he has to prove it was not him that borrowed the money. The credit card debt was all on new accounts that were opened by the bandit. As far as everyone knows it was he who borrowed the money.
Without catching the bad guy, he couldn't prove his innocence.

GE

[GrandEagle]

Again, it was the credit card companies' error,
Oh, by the way, most likely if you have a credit card, you have agreed to an arbitration only clause.
With this clause, you agree that no matter what happens, you have relinquished your legal rights with regard to the creditor - even if it is intentional, willful, and deliberate. You have agreed that they can pick one of their cronies that you will pay to "arbitrate" the problem.
If I could get them to send me a million dollars and charge it to your account, you have agreed that you will be at their mercy.

Not really related to the discussion I know, but you are mistaken if you think their is any legal recourse except bankruptcy.

GE

[GrandEagle]

My Post
I know, but you are mistaken if you think ...

Sorry, sounded a bit snotty - It was said cordially.

GE