Hi there. Well, in the 17th month of my CH 13, and just called the lawyer today to make an appointment to modify CH 13 or preferable, convert to CH 7. Anyhow my story is this: We filed in Sept 07, no secured debt other than mortgage, about 90K in unsecured debt and 50K in non-dischargable student loan debt. No assets to save (home appraised at what we owe, vehicles both 12 years old with 150K miles on them, etc) so the only reason we did CH 13 was because we failed the means test by quite a bit, and were on course to pay back 75% of unsecured debt in plan.
Then in March 08, hubby hurt back at work. Lost $1000 a month when he went on disability, but between savings in gas from his commute (~$300), savings in childcare (~$350) and picking up some overtime at work on my part, we were able to make it all work still. Now his 1-year disability is running out, and we start the fight for permanent disability, which means an additional $1400 drop in his take-home (zero until approved). So we're going to try to see whether we can make something good happen out of all of this, which would be a CH 7 discharge if at all possible. (My paycheck is also going to be $400 smaller a month since now I have to pick up the health insurance which my hubby only had to pay $80 for.) My salary alone puts us about $2000 under the mean, and I've read that disability income can't be used in determining if you pass the means test (although can be considered as disposable income in CH 13) so don't know if the trustee will just allow us to convert or will wait to see what happens with his disability case to see if he can get more $ out of us then. Also, we have pretty low expenses (no car payments, mortgage is only $700/month including taxes and insurance) so even if we pass the means test, he could still probably argue we have some funds to pay into the plan.
Anyhow, just keeping my fingers crossed! My appointment with my lawyer is March 2nd since they were too busy to get me in any earlier. Anyone else have conversion stories to share?
Then in March 08, hubby hurt back at work. Lost $1000 a month when he went on disability, but between savings in gas from his commute (~$300), savings in childcare (~$350) and picking up some overtime at work on my part, we were able to make it all work still. Now his 1-year disability is running out, and we start the fight for permanent disability, which means an additional $1400 drop in his take-home (zero until approved). So we're going to try to see whether we can make something good happen out of all of this, which would be a CH 7 discharge if at all possible. (My paycheck is also going to be $400 smaller a month since now I have to pick up the health insurance which my hubby only had to pay $80 for.) My salary alone puts us about $2000 under the mean, and I've read that disability income can't be used in determining if you pass the means test (although can be considered as disposable income in CH 13) so don't know if the trustee will just allow us to convert or will wait to see what happens with his disability case to see if he can get more $ out of us then. Also, we have pretty low expenses (no car payments, mortgage is only $700/month including taxes and insurance) so even if we pass the means test, he could still probably argue we have some funds to pay into the plan.
Anyhow, just keeping my fingers crossed! My appointment with my lawyer is March 2nd since they were too busy to get me in any earlier. Anyone else have conversion stories to share?
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