Payment Question in Chapter 13

[jwsmartin]

I have a question that may not have an answer...

We are about to file a chapter 13, and the lawyer is saying we have 2300 a month left after all allowances, etc. We have a house that is about to foreclose, plus a 1450 a month rent payment, but all they allow is around 700! She said that was for the mortgage and that we cannot list any of the rent.

My question is how much should I look forward to paying. I figure if they deduct my rent out, that would leave around 900, and if I bought another car (we only have one), we could take the other deduction of around 500, leaving only 400 a month. Does this sound about right?

Any info would be great!

Thanks!

[lrprn]

The current bk law forces you and your lawyer to use the mandated "average" housing costs for your state when filling out the Means Test. However, on your Schedule J, your real rental cost can be used.

You can thank the 2005 Congress for this stupidity. They voted it into law...but of course did receive a lot of nice money under the table for re-election, etc from all the big boy credit companies who thought they would reap a windfall from changing a law that was working well into one that is a huge mess.