Chapter 13 payment

[kayemc]

My jusband and I make 121,000 a year and due to credit card debt had to file Chapter 13. Our payment is 1800 a month. Does anyone else who has filed chapter 13 have this high of a payment?

[bcvw]

I fully expect to be somewhere up there.

How much debt did you have? Are you 100% payback to unsecureds?

[NowImDownInIt]

It just depends on what you have left over after necessary expenses.. To me, that doesn't sound too high at all. I net about 40k a year (gross 60k). My payment is 700 a month. That is about 23% of my annual income. Yours works out to about 18% of your annual income. Depending on your debt and you expenses, I would say, feel blessed.

[woeisme]

My husband and I made about 80K a year, and our payment is $1100/month. This does not include our mortgage or car payments, this is just the amount going to unsecured. So $1800 may be about right. It really depends on a lot of factors, including where you live, cost of living, amount going to mortgage, vehicles, and other secured debts, etc. Two people with identical incomes may have very different paybacks as their financial situations are different (number of dependants, allowable exemptions vary from state to state, the list goes on and on.) So it's impossible to decide if that's a good plan or not based just on income and payment amounts. What is important is if it is a budget that you can live with for 5 years.

[kayemc]

Payment

Yes I should be blessed. I was curious. Our lawyer did not communicate with us much. we filed in July and finally heard from him last week. We had 100,000 in cc debt and our payment does include our vehicles. I work at a financial institution and see this happen all the day, and never dreamed I would be filing. I hope we can get back on track and my meeting with the creditors is in two weeks.

What happens then?

[bcvw]

So you didn't really file in July, you just gave the attorney the information then? The reason I ask is that a mid-October 341 meeting seems a long way out from a July filing.

Did you look over the payment plan and budget he had worked up for you before signing the papers? Did it seem accurate and something you can live with for the long haul?

[NowImDownInIt]

So you didn't really file in July, you just gave the attorney the information then? The reason I ask is that a mid-October 341 meeting seems a long way out from a July filing.

Did you look over the payment plan and budget he had worked up for you before signing the papers? Did it seem accurate and something you can live with for the long haul?

St. Louis may have rescheduled court dates due to the storm like my confirmation date was rescheduled...

[NowImDownInIt]

Yes I should be blessed. I was curious. Our lawyer did not communicate with us much. we filed in July and finally heard from him last week. We had 100,000 in cc debt and our payment does include our vehicles. I work at a financial institution and see this happen all the day, and never dreamed I would be filing. I hope we can get back on track and my meeting with the creditors is in two weeks.

What happens then?

Well since it's been over 30 days since filing, I will assume that you've already made your first and maybe second plan payments by now. You will have you 341 where probably none of your creditors will show up and then you will continue with your life.... budgeting, making payments to your trustee (either by money order through the mail, or by payroll deduction) and hopefully learning a lot of lessons along the way. Eventually (I hope) we will get used to living on less and the habits will stick with us. Good luck with your 341. I hope it goes smoothly.

[kayemc]

We paid the fee in july and I quess it was not actually filed until last week. We never got copies, but he said they should come in the mail. When we signed the payment was 1600 and then before he filed he called and said with fees it was 1800. His behavior seemed a little odd, so I quess I am looking for reassurance from the forum.

[NowImDownInIt]

We paid the fee in july and I quess it was not actually filed until last week. We never got copies, but he said they should come in the mail. When we signed the payment was 1600 and then before he filed he called and said with fees it was 1800. His behavior seemed a little odd, so I quess I am looking for reassurance from the forum.

Okay, when I originally filed, before I created my plan and schedules, my plan payment was only going to be $400 a month for 60 months. When I completed my plan and schedules (two weeks later) the payment went up to $700 a month but for only 36 months... Sometimes payments change when there is more disposable income found in a budget or more debt found. It's very common for that to happen. Are the remainder of your attorney's fees being paid through the plan? Mine are, so I'm curious if those are the fees that he is talking about. The copies WILL come in the mail, and you can also find them on Pacer, but beware because they are large documents and they charge .08 per page. I would suggest waiting until you recieve your copy in the mail and then read through every last syllable (even the legal jargon that you may not understand). I think I read my plan 3 times after I got it in the mail. It really helps you in understanding where all the numbers add up.

[bcvw]

You may wish to get a PACER account and look at what he actually filed. I'd also think you are entitled to copies of what was filed and he should provide that to you.

[NowImDownInIt]

You may wish to get a PACER account and look at what he actually filed. I'd also think you are entitled to copies of what was filed and he should provide that to you.

My attorney just sent everything in the mail... it only takes a few days.

[kayemc]

This forum is great. Thank everyone for there help! Actually I do feel a little better. I am going to get on Pacer.

Thanks Greatly!!!

[SiftedLikeWheat]

On payment amounts, don't forget your disposable income will vary based on the size of your family, amount budgeted for medical needs may vary, etc. You can't just look at income to determine an acceptable payment. That's why they make you go through the budget process.

[MOMof3]

The amount per month will vary from person to person. We pay $3040 per month---but that includes our house payment.