Chapter 13

[Pattie Smith]

I was on the wrong thread, in General. Good response but I am looking for some advice from someone that recently went through the Texas Bankruptcy court. I would appreciate learning about your experience. I just went on Friday to see an attorney, actually I spoke to a legal assistant. I just had rough estimates. I have another appt in one month and I will have all the facts together. I did not know that you would possibly have to pay 100% back...I hope not or we wont have any money left. I am scared to death and could not sleep after learning all of this on the forum. the legal asst did not give me any details on the payback. Please if some one could give me an example of how they arrive at the % of payback. 70,000 unsecured cc debt at 70,000 gross earning per year??? Thank you so much.

[ameliabedilia]

Pattie,
No one will be able to help you if you don't list your take home pay and expenses. Your payback amount is determined on this information. People are trying to help you but you are not giving us what we need to help you. It isn't necessary to find a person that has been through bk court in your state. You are also asking questions tagged on to unrelated threads.
People here are VERY helpful and knowledgable. Just give us your info and we will help you.

[isitreal]

First off.. Relax... Take a deep breath.. We are all here to help each other.

One of the first things you will discover with Chapter 13 is that you get to keep your non-disposable income (all the money you need for housing, food, cars, clothing, grooming, etc) and use it for those items. This amount is different for everyone. It's based on where you live, the standard budgeted amounts for each item, etc. All the money that is left over after that is deemed "disposable". If you are not paying back 100% (which you will not be if your disposable income cannot pay back all your debt in the length of the plan - 36 or 60 months), then you would give all of that disposable income to paying off the debt.

Hope that helps.

[woeisme]

Try this site to get the means test for someone filing CH 13. It has links on it for the applicable amounts you need to add to the different lines based on the IRS tables. It should give you a ballpark figure of what you will have to pay. A good lawyer might be able to work out some "wiggle room" with some of the numbers, make adjustments for expenses beyond the IRS allowances, but it should give you a good place to start. Good luck.

http://www.uscourts.gov/rules/BK_Forms_08_Official/B_022C_0108f.pdf

[Pattie Smith]

Thank you everybody....I will get back with a figure...