How much do they actually get [Archive]

Jenn

10-05-2005, 06:55 PM

I am in the process of filing a chapter 13. I am still a bit unclear on how much the creditors actually get back. My husband and I are about 40 grand in debt- we are doing a chapter 13 because we did a chapter 7 a few years ago, but then i got sick and had to quit working and we got into debt while i was waiting for my disability.
I still dont know how much we are going to be required to pay monthly- my lawyer is working the numbers- we are going to file before the deadline on the 17- I know its probably hard to tell how much we are going to pay, but i just dont want to get an order to pay like 800 a month or something.
My husband works on commission so the winters are slower than the spring and summers- I am just really stressed about this, and relieved. I just want a solution to this.

HHM

10-06-2005, 06:34 AM

All I can say is wait for your attorney to run the numbers, but if you gave your attorney enough information, you should already have some idea.

Since your husband works on commission, just use the average of his last 6 months worth to derive an average monthly income, then subtract your living expenses (i.e. mortgage/rent, groceries, I am sure you attorney had some work sheet he gave you for this), What ever is left over is what you pay on a monthly basis for at least they next 36 months.



	Bankruptcy Forum > Before the Discharge > Chapter 13 > How much do they actually get PDA How much do they actually get Jenn 10-05-2005, 06:55 PM I am in the process of filing a chapter 13. I am still a bit unclear on how much the creditors actually get back. My husband and I are about 40 grand in debt- we are doing a chapter 13 because we did a chapter 7 a few years ago, but then i got sick and had to quit working and we got into debt while i was waiting for my disability. I still dont know how much we are going to be required to pay monthly- my lawyer is working the numbers- we are going to file before the deadline on the 17- I know its probably hard to tell how much we are going to pay, but i just dont want to get an order to pay like 800 a month or something. My husband works on commission so the winters are slower than the spring and summers- I am just really stressed about this, and relieved. I just want a solution to this. HHM 10-06-2005, 06:34 AM All I can say is wait for your attorney to run the numbers, but if you gave your attorney enough information, you should already have some idea. Since your husband works on commission, just use the average of his last 6 months worth to derive an average monthly income, then subtract your living expenses (i.e. mortgage/rent, groceries, I am sure you attorney had some work sheet he gave you for this), What ever is left over is what you pay on a monthly basis for at least they next 36 months.