Chapter 13 Dispersement Day!!!!

[tleeburks]

Just wanted to say hello and say, yehaw. Its dispersement day!!!!!!!!!!!!!!! Its that day of the month that alllllll of that hard earned money you busted your butt for and then it was garnished away to your trustworthy trustee. Now it is given to the creditors of HIS choosing. Yepee!!!!!!!!!!!!!
I get to go to the store and pick out my favorite Ramen noodles and cheap snacks and so forth from my neighborhood Aldi's. Fantastic.

Anyway. OK, I'm done venting. I gotta remember why we are doing this. We are taking care of our family and providing for them and keeping them safe in this terrible world we live in. Thats why we are doing this. So when I get down about all of this I think about those things and reach deep inside and find the true meaning of pressing on. I learned it in the military. They knock you down, you get back up. YOU PROVIDE!!!!!!!!!! The HECK with the people that are making all of the money off of this. Take Care of your family!!!!!!!!!! Nuff said.

[PI_Lvr]

I'm sorry, but I really feel differently about this. I was $90k in the hole, filed BK13 and, if I stick it out, will only pay back $35k. Yes, there are people making money off of what we're paying, but if it's not more than the difference of what I'm paying and what I owe, there's no problem. Without the BK programs we'd be stuck, in a lot worse shape than we are in the program, and we will be in a MUCH better position after our program is finished. Remember, it was us who got ourselves into these situations, no matter what the circumstances, and being negative about how the money gets distributed or who makes money off of providing us with this program is totally misdirected.

MY OPINION...

[anonymuse]

PI,

Very well said--three cheers to personal responsibility and owning up to our past mistakes!!!

TLEEBurks,

Just like we have jobs and expect payment, so do the trustees. Do you think they should do what they do for free?

[Minnymouth]

PI LVR,

For those that were able to file simple Chapter 7's, or do a partial payback under Chapter 13, or a complete reorganization under Chapter 13, Bankruptcy is a true blessing........

Most are able to maintain the assets that they do have, keep their homes and autos if they wish, etc......

We all filed bankruptcy for one reason or another, (medical, financial, disasters, etc)... we had no other options available to us to solve the problem. All of us accept responsibility for our actions, admit when we have a problem (whether it be gambling, spending too much, more management, etc).....

No one "wants" to cheat a creditor, most are taught "you pay your bills"...... and most people do pay and attempt to pay their bills in good faith!! Very few file to "beat the system"...............

No one expects a Trustee or an Attorney to work for nothing........they are both paid exceptionally well by us and by the Court for what they do.... But they too have responsiblities.... Attorneys to the filers, Trustee to the Creditors..... The US Trustee and Judge to see that everyone is treated "fairly" in the proceedings.

But also the US Trustee and Judge are expected to be "fair and just" to all parties involved........... When problems arise in a bankruptcy, they themselves should LOOK at all aspects of the case......... not just the creditors!! When a creditor's actions creates a problem, they should be penalized for it...........not benefit from it..... When a Trustee fails to negotiate with a Attorney regarding assets being seized.... then that Trustee needs to be repriminded.... When an Attorney fails to represent a client to the "best of thier ability" and abandons the client to cover their own ass, then they should be fined..........and penalized.

Filing bankrupty is demoralizing.... it's embarrassing..... it degrading to your character and everything you believe in.... You often feel like a 2nd class citizen or a failure!! It causes panic, anxiety, illness, stress, insonima (can't spell)....... It destroys your credit and the ability to get credit for several years....

Yes, bankrutpcy is a "financial relief" that may not always be avaible in the future........

But OFTEN, bankrutpcy DESTROYS LIVES ALSO......

It will break up marriages, cause ill-tempered spouses, put stress on your children, causes severe mental and emotional stress...

AND THEN YOU HAVE THOSE BANKRUPTCY'S where everything seems to go wrong and does!!!!!

Some filers are screwed over royally by their attorney's (failure to represent their clients properly), their creditors (often cause assets to be seized by the Court), the Trustee (who often has a greedy hand). When this happens people loose everything they own thru "no fault" of their own actions....... in fact had their bankrutpcy been done correctly and everyone did their "paperwork" as they should have their cases would have been simple Chapter 7's or Chapter 13's.......

And then to add insult to injury, the very Attorney, Creditor and Trustee who caused and created the problems "line their pockets" with all the proceeds from what they have "seized" from the shocked filer.........

Yes, filing bankrutpcy is a "fresh start" in life for most, but for some it can be "absolutely devasating" with it's HIDDEN PROBLEMS.............

Yes, when they seize what I own and I should still own it but don't (when I've been lied to by an attorney)...........THEN YES........... I WANT TO KNOW WHERE THE MONEY WENT.........

When a creditor "benefits" from his errors......at my expense, and my attorney "benefits" from his lack of representation, and a Trustee "benefits" because he has a greedy hand............. YES, I WANT TO KNOW WHERE THE MONEY WENT...............

When I walk away from bankruptcy with only the shirt on my back because of a "clerical error" caused by a creditor, then I want answers to my questions......... in fact..... I DEMAND THEM.

My thoughts on the subject......

[Jman30]

I think both arguments have merits. Yes, for most of us, being in a Bankruptcy was our own fault, wether directly or indirectly. Wether it was medical bills, divorce, loss of job, credit card debt or just pain stupidity. Considering we are getting our debt wiped out and or paying it back at a mere % of what we owe, it is a small price to pay to have to live like a pauper and struggle daily. At least we have learned a lesson (hopefully) and will use this fresh start to our advtange.

To Minnymouth's point, I too want to know where my money is going. Just because I am in a BK, does not mean I lose all my rights as person or as debtor. Being in a BK gives me rights I did not have before I filed. The right NOT to be harassed by creditors, the right to be FAIRLY represented by legal counsel and the right to be treated FAIRLY by the Courts and the Trustee. When someone screws up, it should NOT be the debtor who pays for it, especially if we are holding up our end of the bargain. Too many times attorney's or trustee treat us like numbers instead of people with REAL problems and REAL feelings.

And when THAT happens, bankruptcy can be a living nightmare.

[bkbiker]

Hi Minnymouth,

Very very very nicely stated,

Best wishes, bkbiker

[13inOR]

("It will break up marriages, cause ill-tempered spouses, put stress on your children, causes severe mental and emotional stress...")

You got that one right, Minny, about the "ill-tempered spouse"--my husband drove me insane the whole 19 months we were in ours before payoff--he just couldnt handle it. So, you hit that nail on the head!!!

[lrprn]

My heart goes out to you, Minny. You've had to swallow a situation that is so completely wrong - how do you keep your positive attitude?

It's very disturbing to know that innocent people like Minny can be so severely harmed by our legal system. And as bad as that is, the worst is that it's too often swept under the rug while everyone pretends that things are just fine - like a group of women knowing that their friend's new baby is butt ugly but no one dares tell her to her face, instead they all just talk about it behind her back and say, "tsk tsk, too bad".

What happened to Minny in court is wrong - doesn't matter if it was "legal".

[aa06a47]

Chapter 13 Bankruptcy, an emotional roller coaster, a dark secret that will be a part of me, a period of life unsure what to do in the event of an emergency while in the 13 (probably the worst part of it).

At this point, I don't really care who gets the money I send in every month. Just as long as every payment I make gets me one month closer to the end. My 13 payment is about the size of the min payment on 1 of my 6 cards. I really do feel much better about my finances today than I did 4 months ago, but yes, it still is a struggle.

When you make min payments and bascially have to charge the same amount or more the next month to buy the necessities, you really don't know how messed up you are financially. Now, I live within my means. In 5 years, I should be in good shape if I just live the same way I have to now.

[Goldline]

But what about the banks?

[QUOTE=anonymuse]PI,

Very well said--three cheers to personal responsibility and owning up to our past mistakes!!!

TLEEBurks,

Responsibility should go both ways. How is it that the banks can get away with murder at our expense? They NEVER have to put up any money for credit accounts. They actually make money on our signature every we sign up to 15 times the actual face value. And the more money gets created, the less it's worth. That's why we are all in so much trouble. Gas prices are not going up - the value of our fiat money is going down. It takes more and more to buy anything because our dollar is worth less and less and less. It won't be long before Canada's dollar will be worth just as much as the US and what about the Euro. It's actually worth more than our dollar right now. Personally I refuse to take the blame for what the banks are doing to us.

[anonymuse]

Responsibility should go both ways. How is it that the banks can get away with murder at our expense? They NEVER have to put up any money for credit accounts. They actually make money on our signature every we sign up to 15 times the actual face value. ..... Personally I refuse to take the blame for what the banks are doing to us.

Nobody is holding a gun to us making us spend on credit. Credit card companies are not saints, but I will not use them as an excuse for my own bad choices.

I did not live paycheck to paycheck. I did pay off my credit card in full almost every month.

* Even though I was layed off from work, I could have made better choices to have saved more previously (I had about a 4-5 month buffer, but should have had more.)

* When I got layed off, I didn't put myself on a shoestring budget immediately since I just thought I'd find another job quickly and had severance pay.

* To save myself a few bucks, I didn't want my COBRA ($400/mo) overlapping with a new job I was in. The new job fizzled after a couple of months and the medical insurance application was one day too late to keep it.

There are dumb mistakes--bad choices--I have made. I kick myself daily for being irresponsible. I just hope BK will work for me and let me have the fresh start.

[aa06a47]

Nobody is holding a gun to us making us spend on credit. Credit card companies are not saints, but I will not use them as an excuse for my own bad choices.

I did not live paycheck to paycheck. I did pay off my credit card in full almost every month.

* Even though I was layed off from work, I could have made better choices to have saved more previously (I had about a 4-5 month buffer, but should have had more.)

* When I got layed off, I didn't put myself on a shoestring budget immediately since I just thought I'd find another job quickly and had severance pay.

* To save myself a few bucks, I didn't want my COBRA ($400/mo) overlapping with a new job I was in. The new job fizzled after a couple of months and the medical insurance application was one day too late to keep it.

There are dumb mistakes--bad choices--I have made. I kick myself daily for being irresponsible. I just hope BK will work for me and let me have the fresh start.

My situation was definatly self induced by poor decisions, bad habits, and lack of any self control. I have always seemed to live paycheck to paycheck... not because my income was low, but due to poor borrowing practices and instant pleasure.

Chapter 13 does one thing. I don't go spend money unless I really need it. Once it is gone, it will never come back. Yes, I have a couple of monthly expenses I really don't need but want and make sacrifices in other areas to continue to have them. If I can continue to be frugle, I will make it. I guess it is a mind set. I often see things I want, but then decide I don't need.

[Anj]

I have to agree with aa on the previous page - I don't really care where the money goes that I send to the trustee - I'm pretty much ok with the fact that he is getting paid to disburse it - so no problem.

We all come here for different reasons, you read it 100 times. Some of us are very very meticulous about following pacer and other things - and then there are those of us who just do this to get thru...

I have never once hated paying the trustee - but I do hate being "stuck" in this limbo for YEARS. That's the hard part for me - is knowing that this won't be 1-2-even 3 years... they want me for 5 YEARS - ugh

[13inOR]

I agree, aa, I didnt really care where the money went either, I just wanted them to credit my account one payment closer. I think a person in chapter 13 is wise to not spend their time obsessed with what day the payments are sent, how their credit report is looking, etc. Its enough to just live one day at a time and get through it. I just recently got out of mine, so I am speaking from experience. My husband had a terrible time just letting go and taking one month at a time. I was able to get into a different mindset that helped me cope better. The most important things a chapter 13'er can do is pay all their payments on time, and save a dollar whereever you can for a little bit of a cushion. At the same time, you are learning how to manage your money better, and live within your means. That will ensure success during the plan and also in the future.

[screwedUp]

I Need Advice

Hi, maybe you guys could help....I am up to my ears in debt. Don't have much money left each month. I have creditors breathing down my neck and wanting to garnish wages.....I have about 50,000 in credit cards. I own a house and 2 cars but nothing is paid for by far. If I would to file a chapter 13 what will happen? What kind of payments would I have?? Does the trustee make car payments too? Do they take all my credit card bills and car payments, etc. and then I pay the trustee and he makes the payments? How about my house payment? Are the payments lower??? I just have a lot of questions.

THANKS much in advance.