No end in sight?

[sassiebaz]

Well, after meeting with three attorney's, Im under the impression it's not the right time to file. #1 because my husband is currently working two jobs after losing one good paying job last june. I'm now working part time, however we are still just trying to catch up and keep our heads above water. Having said that, our current income is over the median in our state. The last lawyer I met with said the best thing to do is wait until six months after hubby quits his second job and then file. Even then, we have a huge car payment, creditors may seek judgements in that time frame, and looks like we will owe Uncle Sam this year(first year ever). Im so frustrated and just don't know what to do. We can't qualify for another, cheaper car. I cannot ask family to co-sign so looks like the SUV stays. cannot cram down anyhow as we just bought it last year. I'd like to just wait it out until we can file another Ch7 but that is three years away. Im almost certain someone will garnish our wages at that point....any thoughts? Advice??? Should we just wait the six months and file 13 anyways?

[StartingOver08]

I am a little confused. Usually people wait to file so the income can be reduced enough to file a CH 7 instead of a CH 13. In your case, you are only eligible to file for a 13 because you have filed previously.

What would happen in the next six months to make your filing a 13 better for you? Are you thinking your plan payment would be reduced? Can't you modify the plan payment anyway once your income drops?

[optimistic1]

Most likely it might put her under the state median income, and give her a 36 month plan.

The Trustee will allow a payment of up to $522 a month, according to their newly updated expenses guidelines sheet. So unless your over that amount then you shouldnt need to worry.

Why are you seeking to get rid of the SUV, and have you owned it more than 2.5 years?

The attorney you met with is probably incorrect, you need to just hire someone else instead and get the ball rolling.

[sassiebaz]

Yeah, right now it seems that our income is over $80K a year, but that is short lived. So we do need to be under $76K in order to not have such a huge payment. The last attorney we met with said roughly $2K a month.....without the second job, it'll be more like....just the car payment and the attorney/trustee fee. Maybe if we just wait 3 months after hubby quits night job, it will still put us under?

Optimistic-we can't do the cram down as we just bought the SUV a year ago.....I mean I could go to Drivetime and buy a small car, but my husband is absolutely against that. Our vehicle is reliable, and big enough for our family and whatnot. So. I guess the SUV stays.