What is your average payment?

[brokeNconfused]

geez.. well im single income and plan on keeping house. I have to go 13 so i can refincance in a year or so before my variable rate kicks in. Family of 5 and i dont want to move them again..or rent.

If i have already retained an attorney its too late to wait 90 days to file isnt it? im not too worried.. its not TV's , jewlery or fur coats.. some was xmas. some school clothes and work clothes. 500 alone was groceries. 100 a week in gas.. etc.

[lrprn]

If i have already retained an attorney its too late to wait 90 days to file isnt it?

No. You can (and should) wait to file when you're ready and your situation is at its best to file without any issues dragging along to haunt you later.

We retained our lawyer and didn't file Ch 13 until five months later. We didn't use our credit cards or make any preferential payments during that time to ensure we had no trouble in those areas.

[seanf12]

What is a preferential payment if I may ask? Our lawyer has told us we need to keep making payments on one specific card for about 3 months because we just recently took a cash advance. She also mentioned that we should at least make small payments (as in like $20 each if that is all we can afford) to try and keep the creditors off our backs

[MajorMike]

Uggh! I see so many people with variable rate mortgages!!!!! Why do you guys do that?? That is so crazy!!!

[shadowb]

Hating Chapter 13 and feel like our lawyers suck

I am panicing right now. Our attorney had our payback set at a total of $2100. I work part-time and have a lot of deductions coming out of my check, i.e. health and dental insurance plus my disability and 401K. Anyway, my employer is adamant about having enough in my paycheck to cover my deductions/benefits or I am in jeopardy of losing them. So, when our attorney wanted to divide out the amount, he wanted $500 to come out of my check monthly. Well, hell's bells, that is $250.00 per paycheck. Plus my employer tacks on a $3.00 fee. My checks average $280.33 per pay period. So, would have a whopping 27 dollars and some change. Now that is bearing in mind I don't EVER get sick. I work on production...when I have to take my PDO hours, I actually take a $13.08 per hour paycut. So, in other words for every hour I take sick, you actually need to subtract that out. ANd, this is for the next five years. So, we explained to him that I am part-time and have small checks, so he said that really the court didn't care, that he would juggle it. So, he did and we had $150 coming from my check and the extra $100 from my husband. We felt comfortable in this wiggle room. Well, we went to court for the first time and she agreed with the payment plan and how it was divided, etc. Well, after the fact she rethought her decision and decided my husband's job was not stable enough, so she upped my deduction to the $500.00per month or $250 per pay period. I got the notification from her office three days after the fact, and my attorney gave us no heads up on this. OF course when I got the letter I was mortified and distraught. So, I spent the day calling my attorneys who were not in the office. When I finally talked to one of them she said, well, you are just going to have to live with it...couldn't your husband give you money. I thought jeez what planet is she on....my employer isn't going to take money from my husband to cover my benefits or whatever if I am sick or something. The reason she (the trustee) wants to get the max from me is because though my husband makes a NICE amount, she thinks his job is too unsteady.

Now I am forced to probably work more hours. This is fine but again should I unexpectedly get ill, we are sure in a pickle. I am especially worried because I have an area in my breast the surgeon is watching. I am so worried it may come to the point of needing removal. I just really can't lose my medical insurance over this because my attorney and the trustee's office just don't seem to get it. ANy advice would be great. I am considering bringing in copies of my checkstubs which show how the pay works in order to paint a clear picture to the attorneys.

[seanf12]

Lrprn,

If I may ask, why did you wait to file 5 months? During those 5 months, did you essentially stop paying your credit card bills? If so, were the creditors callng you left and right or did you refer them to your attorney?

I have two jobs currently which I believe will make us ineligible for Chapter 7. However, if I quit the 2nd job and wait 6 months to file, we should be ok for a Chapter 7.

Sorry for all of the questions

Thanks!

[brokeNconfused]

well this is the last month ill be paying. with new car at lower payments, this week the old one goes back to bank. I have set up coupon payments to my bank for house payment, cost me 400 bucks to set up. Its been 2 months since i stopped paying 2 cards and now the other 3 will not get anything. so its just a waiting game now i guess.

[erinb1975]

3298.22 monthly (mortgage included) - 32% payback

[wildfamily5]

Ours is $313, just made our first payment. 3 year plan.

[MajorMike]

Ours is $313, just made our first payment. 3 year plan.

Why are you in a 3 year plan??? That's only 11K or so. Why would you fild BK on such a low amount?

[lrprn]

Why are you in a 3 year plan??? That's only 11K or so. Why would you fild BK on such a low amount?

MM, just because an amount seems small to you doesn't mean it's small to wildfamily. Until you know something about their situation, asking for information the way you have can come across as judgmental.

It's much more welcoming to a new member who's made their first post if you would ask these kinds of personal questions a little more politely. For example, you could have said "Do you mind sharing some background about how you decided to file?" You'll get the same information without the need for multiple question marks and you won't put a new member on the defensive right off the bat. Thanks for considering.

[DebtHeadache]

I just made my first payment of $250.00

My 341 is on 4/2 and confirmation hearing is 5/20 so we'll see if this amount goes up. I will be in the plan for 60 months.

DH

[wildfamily5]

Why are you in a 3 year plan??? That's only 11K or so. Why would you fild BK on such a low amount?

Yes, replayment plan is about $11K.
Although, Total credit card debt was $45K. Owe about $58K in student loan debt outside of bankruptcy of course. Car was included with bankruptcy and our car payments before was only $257/mo so I don't think we did too bad. Just got confirmed today, 341 meeting was a less than a month ago.

We would have declared chapter 7 but the car loan is from a credit union, which we had a $7K credit card as well. We were afraid that the credit union would demand the $7K left on the car plus the $7K left on the credit card.... so we went chapter 13.

[MajorMike]

Yes, replayment plan is about $11K.
Although, Total credit card debt was $45K. Owe about $58K in student loan debt outside of bankruptcy of course. Car was included with bankruptcy and our car payments before was only $257/mo so I don't think we did too bad. Just got confirmed today, 341 meeting was a less than a month ago.
We would have declared chapter 7 but the car loan is from a credit union, which we had a $7K credit card as well. We were afraid that the credit union would demand the $7K left on the car plus the $7K left on the credit card.... so we went chapter 13.

HUH?? That's the reason you filed?? You should of asked your attorney about that hon! Seriously!!! You could of re-affirmed the car and BK'd the unsecured credit card. It happens all the time. You can still convert. I would definitely ask an attorney!

[wildfamily5]

HUH?? That's the reason you filed?? You should of asked your attorney about that hon! Seriously!!! You could of re-affirmed the car and BK'd the unsecured credit card. It happens all the time. You can still convert. I would definitely ask an attorney!

I am happy with the chapter 13. Other reasons too, but credit unions are an unfriendly bunch and can force cross-collateralized of debts and force to reaffirm all of the unsecured debts plus the car loan. Standard practice. We could pay off the balance that the car is worth, but I don't have any money, of course, and have three small kids and I need the car to haul them around.

It all works out pretty good, I researched and studied everything plenty of time before filing. Change it now, no way, don't have the time or money to do that and I don't want to rock the boat. 3 Years isn't that bad, after all, it was debt that I owe.