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I Guess I will be filing a CH7 instead of a CH13...

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    I Guess I will be filing a CH7 instead of a CH13...

    Yea...after the back and forth, it looks like I will be filing. 13 after all. My just don't understand why my attorney is putting me on the 5 year when I should qualify for the 3. Maybe because it lowers the payment some, idk...but I will see if I can make it work since I don't make tons of money.

    #2
    Originally posted by BrokeDavis View Post
    Yea...after the back and forth, it looks like I will be filing. 13 after all. My just don't understand why my attorney is putting me on the 5 year when I should qualify for the 3. Maybe because it lowers the payment some, idk...but I will see if I can make it work since I don't make tons of money.
    I guess you've done some more back and forth since you posted this. Yes, the 5 year plan was probably to make your payment more manageable since you would have to pay off the mortgage arrears during your plan if you wanted to file a 13 and keep your home.

    That leads to some very important advice for a successful Chap 13: Don't even file a Chap 13 if you are trying to keep assets that make the plan payment too high to manage. Better to give up the assets and file Chap 7. Okay, I guess that isn't advice for a successful Chap 13. Just advice on how to avoid a failed Chap 13.
    LadyInTheRed is in the black!
    Filed Chap 13 April 2010. Discharged May 2015.
    $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

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      #3
      Absolutely LITR! Thank you so much for all your insight. I was on the fence earlier, still in denial thinking I could make this work. So instead of a failed 13, I'm going to the route of a successful 7

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        #4
        Originally posted by BrokeDavis View Post
        Absolutely LITR! Thank you so much for all your insight. I was on the fence earlier, still in denial thinking I could make this work. So instead of a failed 13, I'm going to the route of a successful 7
        Hi BD: I am pleased to be reading this. In my humble opinion, you are embarking on a far wiser course of action than trying for a CH13, that from the figures you gave us, you would be unable to fund and successfully discharge a CH13.
        "To go bravely forward is to invite a miracle."

        "Worry is the darkroom where negatives are formed."

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          #5
          Thank you AC...I am content with my decision to file a 7. I realize it's time to cut my losses. I tried to recover the house in the beginning, but now it's time to move on. There's plenty of other houses out there and once I'm done with school I can go that route if I feel it'll be best for my family.

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            #6
            Hi again, BD:

            I moved all of your posts concerning this matter, from the end of that VERY old thread, into this new one for you, so that your fellow-members can better see and respond to it.

            My very Best Wishes for a truly Happy New Year, and New Start!
            "To go bravely forward is to invite a miracle."

            "Worry is the darkroom where negatives are formed."

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              #7
              Thank you!!!

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