Hello,
I filed in 2006, to save my house and my car.
My car is dead. At the very least, I want to amend my plan to take out my car and surrender it -- it is dead. It was a cram down, so it is in the plan.
So my plan will just be to save my house and to pay off the IRS and a few little credit cards.
But I am thinking, my plan payment won't go down...and between what I spend for my Ch 13 payment, and all my current house payments (taxes, insurance, mortgage payments on the 1st and 2nd mortgage) I will be spending more than $1K a month for this crappy house that needs so much work.
Then, since I drive almost 100 miles round trip for work, I spend so much in gas....I got no money left, it seems.
So if I no longer want to save my car or my house, what happens if I convert? I was under the median when I filed, and I think I am under the median now -- I have to check.
If I surrender my house, how does that work? How long do you have to get out? How hard would it be to rent in a 13 converting to a 7 kind of situation?
Lots to think about -- I haven't run any of this past my lawyer yet -- wanted to check in here first to see what others' experiences have been.
Cat
I filed in 2006, to save my house and my car.
My car is dead. At the very least, I want to amend my plan to take out my car and surrender it -- it is dead. It was a cram down, so it is in the plan.
So my plan will just be to save my house and to pay off the IRS and a few little credit cards.
But I am thinking, my plan payment won't go down...and between what I spend for my Ch 13 payment, and all my current house payments (taxes, insurance, mortgage payments on the 1st and 2nd mortgage) I will be spending more than $1K a month for this crappy house that needs so much work.
Then, since I drive almost 100 miles round trip for work, I spend so much in gas....I got no money left, it seems.
So if I no longer want to save my car or my house, what happens if I convert? I was under the median when I filed, and I think I am under the median now -- I have to check.
If I surrender my house, how does that work? How long do you have to get out? How hard would it be to rent in a 13 converting to a 7 kind of situation?
Lots to think about -- I haven't run any of this past my lawyer yet -- wanted to check in here first to see what others' experiences have been.
Cat