Hi BK Forum!

[KellyBerg]

I've been watching the forum for about 2 weeks and there is so much info, that I had to post just to say thanks!
I do however, have a few questions I was hoping you could help me out with.
First of all, I met with 3 Lawyers and picked the one I'm going to use. He already figured my payment and I am filing this Friday.
He said the payment gets confirmed at the 341 but everywhere on here I see that people aren't getting confirmed until months after. Why is that?

Second, if I have a car that I want to keep, do I have to keep it in the plan? My attorney said I had to, but again, seeing posts on here, it's advised not to.

Thirdly,
I don't have a home, I just make too much to file a 7, will that help me?

Thank you so much for your help!

[Boscoe]

Kelly - filing ch 7 vs. ch 13 is not determined by assets - only by income, specifically how much you have made in the 6 months prior to filing. If you are above the median income for your state as it sounds, then you unfortunately cannot file a ch 7.

When they review your plan, your car payment will be one of your required expense items that you will deduct from your income to arrive at your payment amount. So, you should keep it, as you also get to deduct an amount for maintenance (gas, repairs, tune ups, etc.).

[KellyBerg]

Thank you so much!
Also, can I put my negative paypal balance into the plan?
I tried googling that but haven't found anything. Thank you!

[lrprn]

Hi KellyBerg - welcome to BK Forum! Glad you found us!

He said the payment gets confirmed at the 341 but everywhere on here I see that people aren't getting confirmed until months after. Why is that?

See my answer to your question where you posted it earlier at http://www.bkforum.com/showthread.php?p=106916#poststop

Second, if I have a car that I want to keep, do I have to keep it in the plan? My attorney said I had to, but again, seeing posts on here, it's advised not to.

Yes, all debt MUST be included in your plan. What you are seeing here is advice not to REAFFIRM the car debt when you file - that's totally different.

Thirdly, I don't have a home, I just make too much to file a 7, will that help me?

Owning a home or not has nothing to do with whether you qualify for a Ch 7 or not. It's how your income matches up against mandated expenses plus your own expenses on the required Means Test. Your lawyer came up with your estimated monthly Ch 13 payment by seeing how much disposable income was showing on your Means Test and Schedules calculations.

Since you are just learning about Ch 13, take a look at these excellent websites that explain Ch 13:

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

http://moranlaw.net/13workings.htm#Chapter%2013%20practice

http://www.abanet.org/publiced/practical/bankruptcy13_whatis.html

Once you've looked these over, then come back with more questions - we're here to help you sort things out as much as we can.

[Flamingo]

Thank you so much!
Also, can I put my negative paypal balance into the plan?
I tried googling that but haven't found anything. Thank you!

Kelly - All debt must be listed as to filing BK. You need to report the negative PayPal balance to your attorney.

[CATCHMEIFYOUCAN]

Hi Back

I've been watching the forum for about 2 weeks and there is so much info, that I had to post just to say thanks!
I do however, have a few questions I was hoping you could help me out with.
First of all, I met with 3 Lawyers and picked the one I'm going to use. He already figured my payment and I am filing this Friday.
He said the payment gets confirmed at the 341 but everywhere on here I see that people aren't getting confirmed until months after. Why is that?

Mine didn't get confirmed because it was too low. The Trustee wanted what my actual schedules I&J showed $800 compared to $250 my attorney proposed.

Second, if I have a car that I want to keep, do I have to keep it in the plan? My attorney said I had to, but again, seeing posts on here, it's advised not to.

I kept my car outside the plan so the creditor would keep reporting the payments as current, etc. it helps your credit in the long run after you declared BK to show you are paying on something and have kept it in good standing.

Thirdly,
I don't have a home, I just make too much to file a 7, will that help me?

I didn't have a home either, but because I made too much AT the time I filed (due to 2 full time jobs) I was in a Ch13 plan. After couple of months even, before my plan was approved I quit one job and was able to convert to Ch7.

Just my two cents, Best Wishes, Catchmeifyoucan

[KellyBerg]

Thank you. I only have one good paying job so that's not an option for me.
I already did the means test online and I'm way over the median.
The attorney advised to keep car in the plan so that the trustee payment looks higher and he won't question the one my attorney proposes which will be low. He said the trustee almost never turns down his proposals so I'm going with his advice. I just got approved for another car loan for $32,000 at 12% so I want to see about getting a new car and turning the one I have over to the trustee.
I wonder if I can call the lender and see if they will work with me on it? ( like maybe asking them if they will re-negotiate the amount I owe because my interest rate is already good )