Random thoughts--1 year down, 4 to go

[qwertysue]

[oldrocker]

I to hope your next 4 years are as smooth as the first. Great post, in about 2 weeks I'll send in the first payment of our 60 month journey. Hope I feel the same way after my first year. Right there with ya on the car thing, wife's car is 6 yrs old with 130k miles.

Best of luck!

[crookedoak]

Mixed Feelings

filed 10/04, confirmed 1/05
I have mixed feelings. looking back now I think 7 might have been the better way to go, and really feel my attorney misadvised us.

both vehicles that I kept are no longer driveable, but still paying for them ( crammed down ), they are the only thing left and total about 6000.00

cant say that it has abeen all that bad over the years, but it sure is bad now. Financially I am very secure now, except not having the poer to purchase new vehicles

[Flamingo]

filed 10/04, confirmed 1/05
I have mixed feelings. looking back now I think 7 might have been the better way to go, and really feel my attorney misadvised us.

both vehicles that I kept are no longer driveable, but still paying for them ( crammed down ), they are the only thing left and total about 6000.00

cant say that it has abeen all that bad over the years, but it sure is bad now. Financially I am very secure now, except not having the poer to purchase new vehicles

I'll bet you wanted to keep your house and that is why you went with the Chapter 13....I understand your pain as to the vehicles. Our cars were 3 years old when we filed (5 year plan) so we, at that time, had to figure out how to get 5 more years out of them without major cost repairs (you really don't think of that before filing; that thought hits you afterwards when the first repair bill hits and it is over $500 and you gotta find the money to pay it). We were able to buy out early in our Plan (at year 4) due to major house repairs needing to be done that just could not go another year. After we bought out, I had to obtain another vehicle as it would cost more to keep it on the road that last year than it would be worth. We lucked out and were approved for a GMAC loan at 0% (their promotional rate at that time, or 1.5% 5 years with rebate). We took the 0% for 4 years. We did the right thing.

Vehicle repairs or maintenance and house repairs/upkeep during the course of a Chapter 13 can be a major problem for those in it for the 5 year run. It is an eye opener to say the least and makes you realize how much you need to learn to budget after you are out of your plan cause we all certainly very much depend on credit/loans and credit cards to get us through daily life.

[Ortgeist]

I have a house that is just about 100 years old. So far, the trustee was nice in granting us our tax refund to use for replacing the garage roof. However, we still have to get a new garage door opener, a new main house roof, and it would be great to waterproof the basement since I am highly allergic to mold.
I'm about 91/2 months into my Ch 13 and it seems like besides the house and medical bills, everything else totally depends on your willingness to be consistent in paying bills on time. So that is what my husband and I are trying to do. I constantly remind him that this bill or that bill cannot be pushed aside until the next paycheck. That's how we started getting in trouble in the first place.
Now that I don't have credit card balances- it's so much easier to budget properly. But it does worry me that after the discharge I could get a credit card again. I know everyone needs one for emergencies, but I would rather not.
We have all of our needs met- so I'm not sad about our situation. I'm actually amazed at how I can feed our family of 4 for under $100 a week. I keep trying to out do myself every week. Coupons, Coupons!!!

[crookedoak]

I went for 13 solely for vehicles. I am a renter, so I would not have lost my house, but may have been evicted. I feel I was misled into 13, and looking back 7 probably would have been better.

Budgeting really wasnt the issue. Lost wages to due injuries and loss of OT started it. My Father died and I incurred a majority of the expenses and it really hurt. On top of the I inherited my Grandmother and had to care for her, which took even more money from me.

Finnacially now I am 200% better, just being held bak on financing due to open 13. If I could but out for the last 7000.00 things would be great.