This forum is top of the line. I've been reading your posts for a little while now and appreciate all your sharing and caring!
I just filed for chapter 13 last week. Originally, my lawyer said I could not file "comfortably". Meaning that my payback amount would be $1,900.00 a month. I was devastated.
It turns out, his law clerk made a mistake when calculating my income taxes paid each month for the means test. I get paid bi-weekly and this must have caused her confusion and thus a "little error". She put down $830.00 a month paid in income taxes instead of the $1,900.00 I actually pay.
The lawyer called me back in and we worked through it. He was exceedingly sorry and accomodating about this mistake.
My payback amount will now be $738.00 a month. I make $63,000 a year. I am 50,000 dollars in debt for unsecured loans. I will be paying 100% on my new car ($206/month) and a retirement loan ($340/month). I rent an apartment ($780/month). My payback amount will be for 60 months and that will be a little over 70% of my debt.
I was never late on any payments right before I filed. I just could not afford to pay anymore. I was borrowing from my mom to make ends meet. My minimum on my L.L. Bean Visa was $420. My Pro Bass Visa was $220 and Disney Visa minimum was also $200. Plus I have smaller debts with Sears, Old Navy, Amazon, Hewlit Packard, and a small Credit Union Line of Credit balance.
Bankruptcy was an impulsive decision made right before I filed. I just knew I was going to drown and I was going to have to take from Peter to pay Paul.
I have always loved to spend my hard earned money. I love to buy excessive presents for everybody. I spoil the children in my life (I am single and no kids). I have always worked and have always been able to go on spending binges and then come back to reality for a little while, pay up, and then go at it again. I never had any major financial problems.
3 years ago My dad and I were both diagnosed with brain tumors. I will not go into too much detail. It was the worst time in my life (I am 41). I suffered greatly, but my Dad suffered more. He passed away 9 months later and I was cured. My Dad was a pure angel on earth, just a gem. Then my sister got addcited to crack and I got legal custody of her 31/2 year old little boy. I was working full time, still tired from my illness and now a new "mommy-aunt".
My whole world was turned upside down. I had new expenses and I was stressed out. My spending increased greatly, both for necessary items and for not so necessary items. Lots of toys and clothes and food for my nephew. He was treated like royalty as he was going thru tuff times, the poor kid.
Anyway, before boring you to death with too many details......Everything is rosy again. I feel well, my sister has recoverd beautifully and got her son back. My nephew is 5 now and is thriving. He lives down the road from me, I see him everyday and he still calls me Mommy sometimes. My Dad is in Peace.
My financial situation never recovered.
I go to my creditor meeting November 6th. I got notice in the mail that they have already wrote to my employer to have the $$$$ automatically deducted from my paycheck.
I feel very grateful to have this opportunity to go chapter 13. I feel so (relatively) stress free. I was a slave to my credit cards and poor spending habits. I now only have a debit card thru a checking account at Key Bank. (it is a Mastercard debit card).
The credit card companies loved me...they increased my limit to 25,000 dollars (all three Visa cards-MBNA) without me asking. I always paid my bills monthly.
I never want to own a credit card again!! The debit card seems to be all I need.
Anyway, I have a long road ahead with this bankruptcy. I am worried I will make a mistake and I will mess this up. That is why I am going to stick around here and ask for your support!!!
Thanks for letting me vent, share and chatter on.
Karenna
I just filed for chapter 13 last week. Originally, my lawyer said I could not file "comfortably". Meaning that my payback amount would be $1,900.00 a month. I was devastated.
It turns out, his law clerk made a mistake when calculating my income taxes paid each month for the means test. I get paid bi-weekly and this must have caused her confusion and thus a "little error". She put down $830.00 a month paid in income taxes instead of the $1,900.00 I actually pay.
The lawyer called me back in and we worked through it. He was exceedingly sorry and accomodating about this mistake.
My payback amount will now be $738.00 a month. I make $63,000 a year. I am 50,000 dollars in debt for unsecured loans. I will be paying 100% on my new car ($206/month) and a retirement loan ($340/month). I rent an apartment ($780/month). My payback amount will be for 60 months and that will be a little over 70% of my debt.
I was never late on any payments right before I filed. I just could not afford to pay anymore. I was borrowing from my mom to make ends meet. My minimum on my L.L. Bean Visa was $420. My Pro Bass Visa was $220 and Disney Visa minimum was also $200. Plus I have smaller debts with Sears, Old Navy, Amazon, Hewlit Packard, and a small Credit Union Line of Credit balance.
Bankruptcy was an impulsive decision made right before I filed. I just knew I was going to drown and I was going to have to take from Peter to pay Paul.
I have always loved to spend my hard earned money. I love to buy excessive presents for everybody. I spoil the children in my life (I am single and no kids). I have always worked and have always been able to go on spending binges and then come back to reality for a little while, pay up, and then go at it again. I never had any major financial problems.
3 years ago My dad and I were both diagnosed with brain tumors. I will not go into too much detail. It was the worst time in my life (I am 41). I suffered greatly, but my Dad suffered more. He passed away 9 months later and I was cured. My Dad was a pure angel on earth, just a gem. Then my sister got addcited to crack and I got legal custody of her 31/2 year old little boy. I was working full time, still tired from my illness and now a new "mommy-aunt".
My whole world was turned upside down. I had new expenses and I was stressed out. My spending increased greatly, both for necessary items and for not so necessary items. Lots of toys and clothes and food for my nephew. He was treated like royalty as he was going thru tuff times, the poor kid.
Anyway, before boring you to death with too many details......Everything is rosy again. I feel well, my sister has recoverd beautifully and got her son back. My nephew is 5 now and is thriving. He lives down the road from me, I see him everyday and he still calls me Mommy sometimes. My Dad is in Peace.
My financial situation never recovered.
I go to my creditor meeting November 6th. I got notice in the mail that they have already wrote to my employer to have the $$$$ automatically deducted from my paycheck.
I feel very grateful to have this opportunity to go chapter 13. I feel so (relatively) stress free. I was a slave to my credit cards and poor spending habits. I now only have a debit card thru a checking account at Key Bank. (it is a Mastercard debit card).
The credit card companies loved me...they increased my limit to 25,000 dollars (all three Visa cards-MBNA) without me asking. I always paid my bills monthly.
I never want to own a credit card again!! The debit card seems to be all I need.
Anyway, I have a long road ahead with this bankruptcy. I am worried I will make a mistake and I will mess this up. That is why I am going to stick around here and ask for your support!!!
Thanks for letting me vent, share and chatter on.
Karenna
) abusing BK.
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