Budget question

[stopcallingus]

I realize all our cases are different, but roughly how much money are you guys left with each month after your bills? After our BK payment, child support, mortgage, auto ins. daycare, utilities and gas I have about $354 left to live on. That has to feed me, hubby, 3 year old son and 9m old daughter. Formula and diapers will take a big chunk out of that. Is this common? We are not even confirmed yet and trustee has filed objection to plan so the amount could go up. I doubt very seriously they would lower it.....would they? Do ya'll have money to save for emergencies or unexpected expenses? What do you been there don that's do about Christmas and birthdays for your kids? I am really not worried about buying anything for extended family friends just my children. Maybe that sounds trivial considering where we all are but my kids didn't screw up me and their dad did. I don't want them to suffer for it for the next 5 years.

[woeisme]

Your budget definitely seems tight. Is there any way you can work a little overtime here and there to help ease things up? I have a lot more wiggle room in my CH 13 than that, and still picked up some overtime where I work for the couple of months before Christmas so that we had some to spend for the holidays.

[stopcallingus]

I am salary......hubby could work some overtime here and there but I didn't know if they would take it too. He is actually looking for more gainful employment as we speak. See, he lost his well paying job and had to take the first thing he could get as we had a new baby and no insurance. I was still on maternity leave when he got laid off. However when he does get a better paying job I assume our BK payment will go up as well. Right? I feel so stupid. All this stuff is greek to me.

[laurannm]

That seems incredibly tight, even for a Ch 13. Are you paying any priority debts, such as back taxes, or mortgage arrears as part of your plan payment?

[flower04]

We have about $450 at the end for food for a family of 4, including child with diapers. So far we are OK with it. It is hard though. I'd be interested in finding out what you decide with your trustee.

[liz417]

Gee Flower,

I just turned in our expenses to our lawyer and put down $450/month for food for two people! Now I'm nervous about the outcome and what is going to be approved in our plan.

Good Luck

[epiphany]

Gee Flower,

I just turned in our expenses to our lawyer and put down $450/month for food for two people! Now I'm nervous about the outcome and what is going to be approved in our plan.

The latest national allowable expense for food that I saw was 511.00 for two people. Anything after that would have to be explained.

No sweat,

ep

[Mom2one]

See this is what I am deathly afraid of that I won't be able to do it. These budgets seem awfully tiight. Ithought they go by your pay and subtract expenses, I thought you were supposed to live resonable?

Christine

[laurannm]

See this is what I am deathly afraid of that I won't be able to do it. These budgets seem awfully tiight. Ithought they go by your pay and subtract expenses, I thought you were supposed to live resonable?

Christine

I think in the end it will always be a little tight in a Ch 13, but not necessarily as tight as some of these posts. Again, everyone's situation is different, and every trustee is different. Plus you still have the unknown of what types of debts are included in these payments (mortgage arrears, back taxes, etc.), along with the amount of claims, etc.

I wouldn't try to base your situation on what others are paying..every situation is different. Plus having a an experienced attorney is crucial in a Ch 13.

[screwedupbyRE]

I agree with laurannm - every trustee is different. I know a construction worker with a family of 6 (2+4) and we was allowed only 650 per months for food. Trustee asked him to live on in-n-out burgers. That's ridiculous and un-human behavior, and feels like bankruptcy is crime. Unfortunately, I'll have to deal with the same trustee and I'm really nervous. Our actual food budget is approx 950 bucks every month, and we can't stand burgers.

feels like suing trustee if I have money.

[becky20]

Hi, I'm new here - just today our paperwork got filed for our 13. We haven't had our hearing yet (obviously) and I suppose creditors could object to the plan (we're cramming down our car loans) but we're actually going to be in a BETTER situation because we're cramming down our two car payments. Before the BK our two car payments were $768 a month. Our BK payment which will include our two car payments and whatever is being paid to our creditors (the secured are arrears amount for our home mortgage (about 4500) and then trustee fees). Our situation though is that we actually did qualify for a chapter 7 but because we were so behind in our mortgage and needed to get caught up and wanted to keep our home we opted for a 13. I agree, it's all in your attorney and how they build your budget.

[rrockinggramma]

chapter 13 budgets can be tough. However IMHO if married and the BOTH of you are committed you will work it out. You may have to clip some coupons and store shop at more than 1 place to find that week's bargains on the stuff you need and you might not always get the better tasting higher brand stuff (I realized that store brand Hash is NOT that great!) THe return for your efforts is no more phone calls, creditors not harassing you at work. You will regain some piece of mind.

[flower04]

I should say that we haven't had our 341 yet, and that number $450 is low. Our attorney was going to work with the trustee to see what we could do about it. Our problem is that we refinanced our house a few years ago when the prices were super high and did a 2nd to pay for bills. Our 1st and 2nd together is such a large payment and we were barely able to get by when we got hit with medical bills....thus the 13. We want to keep our home for the stability of the kids, etc. Our attorney said that the trustee will look favorably on this and may cut us some slack since we are already paying most of the unsecured debt through the 2nd and tried to remedy the situation on our own.

hope this helps.

[stopcallingus]

That seems incredibly tight, even for a Ch 13. Are you paying any priority debts, such as back taxes, or mortgage arrears as part of your plan payment?

None of that...............

[Cali]

I didn't realise C13 budgets could be so tight. How are you suppose to actually live?