Signed Lease- I think we really screwed up!

[backontrackOH]

OK, here's the situation. We signed a two year lease last week on a home. The rent is about $200 more per month than we tentatively listed on our schedule J expenses. We have not filed yet, probably next week sometime. We were barely able to make everything work on paper as it is. I am assuming we will have to change our rent payment to reflect the known, increased amount, which will then force us to adjust living expenses somewhere else or reduce our BK payment by surrendering another secured asset (car, which we need). Any thoughts here? I have a feeling I am going to have to see about getting out of the lease ASAP! Please advise if you think you can help!

[lrprn]

OK, here's the situation. We signed a two year lease last week on a home. The rent is about $200 more per month than we tentatively listed on our schedule J expenses. We have not filed yet, probably next week sometime. We were barely able to make everything work on paper as it is.

Be sure to let your lawyer know IMMEDIATELY what you've done so he/she can run the figures to see how it affects your filing.

Not being judgmental....just wondering why you signed the lease if you knew it was going to add $200/month to your Ch 13 figures and you were close to the edge already?

[backontrackOH]

Simple answer, I'm stupid! In my discussions with the attorney, I told him I was having a big problem locating a home large enough for a family of five in the sub $1000 price range. He just nodded and said we'll just list $1000 and if it goes over, it goes over. He must have assumed we would be waiting to the very end to find a home, and I don't want to wait that long. So we jumped when we found this house available.

So I am assuming that, if we have a signed lease on the date of filing, the rent better be exactly reflected on the schedule J? This ought to be very interesting.

[rrockinggramma]

My attorney listed my rent payment at 625 for a single 1 bedroom. At the time of filing I was only paying 510.00 I have since moved and now pay a little more. However it didn't change my payment to the trustee. If your lawyer listed your rent payment at 1000 then that is what it will be throughout the plan. And the place you owe the money to will be listed on the paperwork as a "executive contract" When I moved, I just notified everyone and their brother of my new address. No change in payment resulted.