Payment amount

[drowned]

First of all, love this forum. We have been struggling for a long while and trying to keep our cards current and paying our mortgage and cars late. We finally decided to stop paying cards and signed up with debt reduction company and after reading this forum, cancelled agreement with them. My husband and I are considering filing Chapter 13 and I am concerned about the payment amount. Would like to know your payment amount and what it goes to (house, cars, trustee, etc.) Thanks! btw - live in Texas

[erinb1975]

Currently ours is 3300/mo, but that includes both cars (both 2006 Hondas) and our 1st and 2nd Mortgage. We have revised our plan to include surrender of the house, once that is done we'll be down to 1900/mo, still including both cars. That leaves us with approx. 3700/mo for living expenses including rent. We are in Ohio.

[qwertysue]

First of all, love this forum. We have been struggling for a long while and trying to keep our cards current and paying our mortgage and cars late. We finally decided to stop paying cards and signed up with debt reduction company and after reading this forum, cancelled agreement with them. My husband and I are considering filing Chapter 13 and I am concerned about the payment amount. Would like to know your payment amount and what it goes to (house, cars, trustee, etc.) Thanks! btw - live in Texas

Welcome to the forum! Unfortunately, there are wayyyyyyyy too many variables amongst forum members to get an idea of how much payments would be for you: Income after expenses, total amount of debt, different districts/states.

What might be considered a "high" payment for you may be extremely doable for someone else, and a low payment may seem ridiculously low for someone but barely manageable for the person with that payment.

I've seen payments from $280 a month all the way up to $2,000 a month.

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[kmb]

Our payment amount includes only the CC that we IIB'd and my exorbitant amount of student loans. We pay our cars, mortgage, HELOC and DH's child support payment outside the plan. We're only paying 26% towards unsecured debt, so our payments are much smaller now than they were when we were making minimum CC and student loan payments.