Confused and Mad

[daisey]

I had our second meeting with the attorney today, ya know the one where they put in all you income information.......well her schedules J and I show us with 1600 worth of disposable income. Is the trustee going to want all that to pay toward the plan? If we pay that much for 5 years we will have paid 3.33 for every dollar of unsecured debt. Now we do have the house we are surrendering and she seems to think they will not sue for a dificient balance and says we will come to that bridge when we get there. She has us paying 100% back of our unsecured debt with a payment of 700 to be paid 350 per pay period. She says that since we are paying back at 100% they will not take the entire disposable income. I know some might say if its disposable then we should pay it but my income is not dependable as a sub. I got for at about 4 months a year with no income. I don't know how we will get by those months if we have to pay 1600 to the trustee. I am thinking we would be best to keep our house and deal with the headach of renters. THat 1600 is more then we would pay to keep it without renters in it.

[HHM]

If you don't get any money for about 4 months out of the year, then you should file BK at month 1st month after the 4 lean months. The BK court only goes by you 6 months of prior income. As for the 100% payback, if your plan pays back your unsecured creditors in less than 60 months, you will NOT be in the plan for 60 months.

You may want to consider speaking to a few other attorneys.

[daisey]

Well my 4 months is not in a chunck of time it is 2 weeks every 9 and one 8 week break. I am filing with only 4 months worth of income now, I am just worried about the way my income varies. With the plan they are setting up with a 700 monthly payment amount it takes 5 years they said. But if the Trustee indeed wants to take what they consider my disposable income of 1600 a month it will take like half that time to pay off. So if it takes half that time would we only pay till that time. My biggest concern is if they take the full 1600 and the mortgage companies on the house we are getting rid of come back with a difficent balance for us to pay as well, we will be sunk.