We have joined the 30%!!!!

[Carmella]

I saw an email from NDC congratulating us for completing our payments. I went to NDC and I saw the status COMPLETED. Then I went to PACER and saw the order to stop the wage deduction!

Then I looked at my email and literally within the time I looked at NDC our attorney sent an email

Subject Line: Completion of Chapter 13



She attached the release of the wage order so I could email it directly to payroll people.

Here's what she also included:

Congratulations on finishing your 13!! Nationally about 70% of all chapter 13s fail, so you should feel very proud of your dedication and completion of the process. It has been our pleasure working with you!

[Carlybean]

Yayyyy congratulations Carmella! Enjoy your weekend and celebrate!!! 🎉

[shipo]

Oh heck yeah! Congratulations!

[justbroke]

It's a great feeling to get through a Chapter 13. Congratulations!

[eap82]

Congratulations! What a ride it's been lately but IT'S ALL OVER!!!! Enjoy your weekend and celebrate

[Zombie13]

Alllriiiight Carmella !!!

[Barbisi]

Super Congrats and a sense of relief for you Carmella, you so deserve this!!!!!
I never realized we were in the 30% club, LOL!
I think justbroke estimated 60% make it through the BK13, so the odds to discharge are even longer and steeper than I believed.
It's a true miracle we all made it through - like the old hit pop song says , "I can see clearly now, the rain is gone!"

[justbroke]

I think justbroke estimated 60% make it through the BK13, so the odds to discharge are even longer and steeper than I believed.

It changes based, I believe, on the general state of the economy. In the 2008-2015 housing crisis, it was very low because people filed Chapter 13s to stop foreclosures without any intention of going through with it. Based on the BAPCPA Report from 2020 (United States Courts), the rate of bankruptcy discharges for a Chapter 13 was 49%. According to that report, the rate of discharge increased from 43% in 2019, so the trend is going back up. (I had a higher number of 50% because in 2018, Florida was at 49% in my district, but 62% in Florida North!

Generally, based on the 2018 report, 48% of all Chapter 13s filed in the US were discharged in 2017. Some States, like Vermont (with only 10 cases) had the highest percentage at 80% plan completion. Minnesota was at 73% and Maine at 72% for discharged Chapter 13s!

Bottom line is that it will vary by State, economic environment, and the purpose for filing the Chapter 13.

Sorry to post such information in your victory thread. It's worth seeing.

(See Chapter 13 Cases Closed by Dismissal or Plan Completion)

Sources:
Report Summary: https://www.uscourts.gov/statistics-...nt%20in%202019.

Raw Numbers: https://www.uscourts.gov/sites/defau..._1231.2020.pdf

[notreallyme]

congratulations

[sophieanne]

Yay..Congratulations…Celebration time!!!

[Carmella]

Thanks everyone I feel like a new woman. We have plans to move on with our lives. It's not easy carrying on as usual when in the Chapter 13 BK with limited income and hoping your income doesn't change and that no emergencies pop up that you can't afford to fix and doing the best you can with what you have.

This sounds kinda silly, well maybe not to others who have been in BK, but I went to the sale at Bath and Body Works today and bought a few candles without worry. Was it a huge purchase, NOPE, but during BK I was always looking at the numbers because I was worried if something else went wrong I needed to have cash on hand or if most of the bills were due before the next pay day I couldn't buy something not necessary. A lot of the bills are due at once which means carefully watching the first half of the month before the next paycheck comes. At least now there is room to breathe.

Now it will be time to get use to the new budget, save some and spend some -- car, washer/dryer and other projects we put off. But we have no plans to run up credit (except a car loan). Plan on saving money for emergencies and saving up money to pay for other projects

[Zombie13]

Carmella - yep! It feels good to buy something small like that (candles etc.) and not sweat it.

[Carmella]

Zombie13 i am enjoying the mental aspect “if I wanted to buy that I could!” Not going hog wild spending and don’t plan on it, but I enjoy having the option

[Brokegirl]

Congratulations!!!!

[GL57months]

SO happy to log back in here in, middle of June, and pull a cut and paste for you Carmella, from the last week in Jan, when I posted this, "@Carmello hold on tight and good luck, I also was so close and it still seemed far away last June. I will be back to wish congrats to you too soon."

And here I am and Congrats, so happy for you!