Payments Vs. Debt Owed

[CityGirl]

Hello Everyone~
I'm contemplating BK13 but I'm not sure if I have much disposable income left over and wondered if those of you who are going through it could list the total amount of debt you have along with the payment you have to pay and for how many years. Your income would help as well. I just want to compare it all to my situation as this would help.
Also, why didn't you file chapter 7? What is the reason they wouldn't let you? Was that your decision?

Thankyou for your help!

[lrprn]

I'm contemplating BK13 but I'm not sure if I have much disposable income left over and wondered if those of you who are going through it could list the total amount of debt you have along with the payment you have to pay and for how many years. Your income would help as well. I just want to compare it all to my situation as this would help.

The information you are asking for won't help you figure out what's going to happen in your own situation. Filing bankruptcy is a lot more than just comparing the total amount of debt you have to the monthly Ch 13 payment. There's no direct comparison.

If you can give us more information about yourself, we can help you sort out which chapter you qualify for. What state are you living in? Have you lived there for the last two years? Looking back the last six months, what is your total gross income from all sources? How many people live with you? Do you own a house or are you renting? Do you have assets (house, car, property) you want to keep after filing? Are the payments for all these assets up to date?

Also, why didn't you file chapter 7? What is the reason they wouldn't let you? Was that your decision?

The filer has no ability to decide which chapter they can file. That is decided by the results on the required Means Test. To see how the Means Test works yourself, see http://www.legalconsumer.com/bankrup...0801#QuickTest . Put your own zip code in at the top of the page.

You need to learn more about bankruptcy and how it works. Here are two excellent websites that explain Ch 7 and Ch 13 bankruptcy very well -

http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter7.html

http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter13.html

After you go through these and check out the Means Test, come back and ask any questions you have.