For those of you with Chapter 13?

[ansky0007]

Did you have to pay the full debt owed? Or did you pay less over the plan? If less how much less did the lawyer get for you?

[oldrocker]

If you ask 100 people you will get 100 different answers. Every case will be different depending on circumstances. Payback will be determined by how little disposable income you can show on scedules I & J. Plus how much debt has to paid ie. taxes, mortgage arrears, vehicle loan arrears and so on. Take my case; paying back $24000 in back taxes, unsecureds ($72000) are getting nothing.

[chloe0724]

I'm paying back 18k of 85k in unsecured debt.

[Flamingo]

We paid back 64% unsecured, 100% secured.

[vanzskater]

100% secured car loan, 0% on unsecured.

[ansky0007]

Spoke with lawyer today and said I could not file a 13, Said I needed to file a 7 and I might loose my house. I have 300k in credit card debt and $100k in equity on the home. Said if I filed a 13 I would have to pay alot of the credit debt over the 3 years... Should I find another attorney... How are you guys getting 0 on unsecured credit card debt on a 13?

[BigJohn]

How much do you make?
How many in your family?
What State are you in?
How many cars do you have? Age amount owed?
How much is your house worth? 2nd mortgage and amount, if you have one?

[ansky0007]

$50k a year since my wife stopped working because she is under a high risk pregnancy, We one $403k on our home which is worth $500k. I have 2 kids and the 3rd on the way in March. I am in NJ and have 2 cars... 1 car is around negative $5000 in equity and the 2nd has around $6000 in equity. We do not have a 2nd mortgage but have around $300k in credit card debt. Income next year after wife goes back to work would be around $85k.

[ansky0007]

Also, I have been paying off credit cards with balance transfers back and forth for months. Last transfer was only last month for $25k, Lawyers advice today was to immediately stop paying everything and he would file in 4 months... Based on what I read here about balance transfers this seems to be like bad advice?

[lrprn]

ansky, you need to speak to more than one lawyer. This is a huge decision and should be made with the best information possible.

Set up at least three more appointments with experienced bk attorneys in your area. Most give free initial consultations. Lay out everything you've told us and see what shakes out. You'll find that because the bankruptcy law is not completely black and white, there will be differences in what the lawyers tell you. You need more than one consultation to ensure you've heard all the possible options in your situation.

[poor@budgeting]

$50k a year since my wife stopped working because she is under a high risk pregnancy, We one $403k on our home which is worth $500k. I have 2 kids and the 3rd on the way in March. I am in NJ and have 2 cars... 1 car is around negative $5000 in equity and the 2nd has around $6000 in equity. We do not have a 2nd mortgage but have around $300k in credit card debt. Income next year after wife goes back to work would be around $85k.

403k mortgage, 2 cars & kids on 50k or 85k income...I don't think that would qualify for 13.Those recent transfers are most likely going to be viewed as 'abuse'.

But definitely get more opinions(lawyers). Good Luck.