Confirmed!!!!!!!!!!

[DebtHeadache]

Confirmed fnally after a trustee's objection...they said our plan payments were too low according to means test so the lawyer and I went back through and admended our budget and means test. We had forgotten some expremely important things like braces for our kids, etc.....Plus I had to justify our medical expenses, but in the end it worked out. Had our second cnfirmation hearing this morning and we our confirmed....Lawyer e-mailed us and told us we are confirmed and congratulations.


Our payments will be 250 per month for 30 months then goes to 650 for the last 30 months.

We our 3 months into the plan.

Cheers!

[rrockinggramma]

congratulations. It is a relief to be confirmed and the objections are troublesome. But chapter 13's are all about compromise. GL with yours.

[laurannm]

Congrats!!


Why the bump in pay after 30 months?

[lrprn]

That's great news, DH! Congratulations on your confirmation! Now it's just make those payments on time - way to go!

[DebtHeadache]

Congrats!!


Why the bump in pay after 30 months?

I have a 401K loan that will be paid off in 30 months so rather then give me my hard earned money back to me they will be giving it to my creditors.

That's what happens in C13...any and all extra income goes to the creditors.

[DebtHeadache]

That's great news, DH! Congratulations on your confirmation! Now it's just make those payments on time - way to go!

Yes we will. The payments are automatically sent from my payroll department. That is the only way the trustee accepted payments. But on the bright side I have a paystub that shows them being paid and how much so outside of loosing my job things should go just fine.

Just having a very hard time trying to live within a budget.

I have a preteen daughter who always has to have the lastest, a son how also wants the world and a husband that says screw the trustee and thinks he can do whatever he pleases. STRESSED...YOU BET.....But I am guilty as well, habits are hard to break, $4.00 cup of starbucks in the morning is my vice and it is killing my weekly work allowance.

[DebtHeadache]

congratulations. It is a relief to be confirmed and the objections are troublesome. But chapter 13's are all about compromise. GL with yours.

YES. It is a big relief.

Just need to make it to the end.

[Flamingo]

Yes we will. The payments are automatically sent from my payroll department. That is the only way the trustee accepted payments. But on the bright side I have a paystub that shows them being paid and how much so outside of loosing my job things should go just fine.

Just having a very hard time trying to live within a budget.

I have a preteen daughter who always has to have the lastest, a son how also wants the world and a husband that says screw the trustee and thinks he can do whatever he pleases. STRESSED...YOU BET.....But I am guilty as well, habits are hard to break, $4.00 cup of starbucks in the morning is my vice and it is killing my weekly work allowance.

First, congrats on your confirmation!

You are stating one of the things I mention to all new folks in a Chapter 13 - the lifestyle change at the start of a Chapter 13 can really do one in unless you are all able to adjust and change that lifestyle. You need to make sure you have enough money to make that Plan payment and pay all other bills on time. It is NOT going to be easy. You really need to sit your family down and tell them that if they do not comply and keep wanting to spend, that if you cannot make the payments to the Court your Chapter 13 will be dismissed and you will be worse off than you are now. Start a family budget and get all involved. You will have to fight to make it work but it's now or never. Our daughter just started high school when we filed. I know where you are coming from. Remember - who is the parent and who is the child? Your hubby also needs to learn to set an example and you two work together on this. I don't mean to sound like I am coming down hard but seriously if you do not do something now, you will see what I am talking about in several months...best of luck to all of you

[PoorGrammyinBK7]

Congratulations to you!!

We are probably headed into a Chapter 13 soon as well. To those with Ch13 experiences:

Are your house payments (1st mortgage, Home equity loan) in your plan or outside of it? Does a mtg have to be reaffirmed to be paid outside the plan? What about car payments? Obviously with $250 a month you must be paying house and car outside of the plan. We have not even begun the process of developing a "Plan" yet. Just trying to get some advice before we start...thanks for any help and advice those with experience can give!!!

[parsoc48]

Poorgranny, only our mortgage is being paid outside the plan. We originally were headed for a 7, we thought, and I've gotten confused between the requirements between the 2 plans. But I think there's no affirmation in a 13? Anyway, we were current on the house so are paying it the same as before. The car loan is within the plan but not "crammed down" as we were still within the 910 days allowed. Bummer...esp. as it was a lease for 4 years, and purchase for 2...but the lease doesn't count!
So it's $1590 for the house and $1520 for the 13 plan...I guess we should be grateful we make that much money, huh?!
We each get paid biweekly so I take out around $800 from each paycheck for either the house or the Trustee, put it immediately into a chashier's check, and make do with the rest. There's really no easy way....and we each commute 100 miles day so you can imagine how the price of gas is effecting us Luckily I carpool and have a 4-day workweek; DH occasionally brings the work vehicle home and can ride the bus a couple of days, so it all helps.
Good luck to you!

[Flamingo]

Congratulations to you!!

We are probably headed into a Chapter 13 soon as well. To those with Ch13 experiences:

Are your house payments (1st mortgage, Home equity loan) in your plan or outside of it? Does a mtg have to be reaffirmed to be paid outside the plan? What about car payments? Obviously with $250 a month you must be paying house and car outside of the plan. We have not even begun the process of developing a "Plan" yet. Just trying to get some advice before we start...thanks for any help and advice those with experience can give!!!

Answers to your questions:
1. Our first and second mortgages were paid outside our Plan. Neither was reaffirmed and I don't believe reaffirmation takes place in Chapter 13 as the previous poster also stated.
2. We had two cars "crammed" into our Plan (the attorney used the Blue Book Value on each, added some interest to keep the creditors happy and put them in our Plan). The vehicles were 3 years old at the time of filing. One vehicle was paid off in full before we paid off our Plan.

Hope that helps a little.

[epiphany]

YAHOOOOOOOOOOOO!

ep