Alright - I love my lawyer - totally on our side. Today my stbx and I headed into his office to discuss all of our options on divorce, selling and finishing the 13, dismissing - everything and what our options are.
So... here goes - I'll try and go thru this as clearly as possible.
Orginal claims submitted by us - 39K total (attorney and trustee fees included)
20K of the 39K was a student loan (mine) and they didn't respond in a timely manner so the court rejected their claim. Seriously - it's gone - so our 13 is only (to date) $17561.20 on a 58 month plan - can u believe that?? We are paying $965/month.
Amount in plan to date - $6865
We are divorcing ($750 total with filing fees uncontested to be filed by our BK attorney, how thoughful... ha ha) and we have agreed to sell the house, and all proceeds of the home will go toward the 13 debt (the 17.5K).
Home - sale price 189,900 (about 10K less than we could get if we sat on it)
commision - 6%
total received approx 178506 - will not get that much, as there are bound to be a dozen fees we don't know about.
total owed to mortgage (including arrearages that are filed in 13) - 173231 - so....
178506-173231=5275
total debt in 13 after arrearages paid=6669.43
so my friends - we will be anywhere from 6-8K left in the plan at 100%. When that is paid back, we are done... on a 58 month plan
AND the other good part is we will put in at least 3 more payments on the plan (2895) and more principle toward the mortgage (miniscual, i know) but that will chuck away at that 6-8K.
Gosh - I hate that I'm getting a divorce - but I can't tell you how AMAZING it is to know that we will be able to move forward without this looming over our heads for years to come. That we can get a DISCHARGE - not a dismissal - and we can recover so much quicker.
By the way - you have to petition the judge to be divorced while in 13 and submit a new I&J with your incomes seperated after you receive the decree. The 13 is still in both of your names, but you do have the option to dismiss and repetition the court to refile in 30 days after dismissal, but you risk the creditors coming after you (as we are all aware). Another tid-bit to share (in case anyone stumbles across this lurking for answers)...
As a divorcing couple with 3 kiddos - he will have to pay me $1000 a month in support - but that will increase my income by $1000 per month - so I may actually be scheduled to pay MORE after the divorce in the 13 because a huge chunk of his income is coming to me (for support) - now isn't that CRAZY??? So I have to support the kids and pay the bigger part of the debt while he is just moving right along... BUT like I said before, the light - there is a light!!!
A
So... here goes - I'll try and go thru this as clearly as possible.
Orginal claims submitted by us - 39K total (attorney and trustee fees included)
20K of the 39K was a student loan (mine) and they didn't respond in a timely manner so the court rejected their claim. Seriously - it's gone - so our 13 is only (to date) $17561.20 on a 58 month plan - can u believe that?? We are paying $965/month.
Amount in plan to date - $6865
We are divorcing ($750 total with filing fees uncontested to be filed by our BK attorney, how thoughful... ha ha) and we have agreed to sell the house, and all proceeds of the home will go toward the 13 debt (the 17.5K).
Home - sale price 189,900 (about 10K less than we could get if we sat on it)
commision - 6%
total received approx 178506 - will not get that much, as there are bound to be a dozen fees we don't know about.
total owed to mortgage (including arrearages that are filed in 13) - 173231 - so....
178506-173231=5275
total debt in 13 after arrearages paid=6669.43
so my friends - we will be anywhere from 6-8K left in the plan at 100%. When that is paid back, we are done... on a 58 month plan
AND the other good part is we will put in at least 3 more payments on the plan (2895) and more principle toward the mortgage (miniscual, i know) but that will chuck away at that 6-8K.
Gosh - I hate that I'm getting a divorce - but I can't tell you how AMAZING it is to know that we will be able to move forward without this looming over our heads for years to come. That we can get a DISCHARGE - not a dismissal - and we can recover so much quicker.
By the way - you have to petition the judge to be divorced while in 13 and submit a new I&J with your incomes seperated after you receive the decree. The 13 is still in both of your names, but you do have the option to dismiss and repetition the court to refile in 30 days after dismissal, but you risk the creditors coming after you (as we are all aware). Another tid-bit to share (in case anyone stumbles across this lurking for answers)...
As a divorcing couple with 3 kiddos - he will have to pay me $1000 a month in support - but that will increase my income by $1000 per month - so I may actually be scheduled to pay MORE after the divorce in the 13 because a huge chunk of his income is coming to me (for support) - now isn't that CRAZY??? So I have to support the kids and pay the bigger part of the debt while he is just moving right along... BUT like I said before, the light - there is a light!!!
A
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