Has anyone decided after filing to let their house go back? We do not qualify for a chapter 7, and we are in a 25% pay back plan. We are behind 4 house payments, totaling about 10,000. Paying this back and paying a 2250.00 house payment is going to be difficult. If we let the house go and paid everything else at 100%, then I figure our monthly trustee payment would be much less. Is anyone familiar with this idea? I can't speak to my lawyer until Monday. Thanks!!!
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I just read your other posting also and that you just filed. You would not have been approved for a Chapter 13 plan if the attorney or Trustee did not believe you could not meet that Plan payment each month. I am assuming your 4 months back payments are included in your Plan. Without further specifics as to your finances and entire situation, no one can give you any specifics as to what to do. However, if you feel you cannot afford the house any longer, talk to your attorney on Monday. There is not too much you can do on a weekend about your situation. Try to relax and enjoy the holiday weekend and you will get the information you need on Monday to resolve your situation.
Best of luck to you..._________________________________________
Filed 5 Year Chapter 13: April 2002
Early Buy-Out: April 2006
Discharge: August 2006
"A credit card is a snake in your pocket" -
Exactly, they had to look at your income to see what you could afford. If you couldn't your payback would of been less but you have showed that you have the income to do so. Is there a discrepancy?Filed: October 1, 2007 341: December 10, 2007
CONFIRMED: December 10, 2007
Payment: $825 / Mo. for 5 Years-29 MONTHS OF Pmts Down 23 to go!
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I have relatives I have to pay back, which I will need to do out of the discretionary income. My payments to them (more than one) will be paid off in March, which will help a lot. It will just take a lot of fiscal discipline to make it until then. Actually, if it weren't for my pay back to relatives, I would be happy with my proposed trustee payment. Thanks for your help!!!Comment
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Can the relatives be satisfied with a lower payment for a little longer?
I know what it's like to owe relatives. We owed a son-in-law $1230.00. We wanted to pay $500.00 then the rest 6 months later, but the daughter pitched such a *hissy-fit* over nothing, that I told 'Hub to pay the whole #$%^$#ed amount and get through with them. If we had done what we wanted, we would have flown under the radar and they would not have been picked up as a 'preferential insider' payment. Now we are having to pay at least part of that back to the Trrustee. At least he is working with us and not demanding the entire amount."To go bravely forward is to invite a miracle."
"Worry is the darkroom where negatives are formed."Comment
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