Modifying... go figure

[NowImDownInIt]

Well, in December I started a job making roughly $2200 less than the income my bankruptcy was based on. I had gotten laid off and this seemed like the best idea at the time. I love love LOVE my new job. Then, end of March, I had my baby. I was already pregnant when I filed, but I didn't know it. So there was another little hiccup. For some reason I thought that it would all be fine, we would make it work. I don't know how many times that I have advised people to speak to their attorneys about modifying when life changes took place and that it was the best way to ensure that they would be able to continue making plan payments. I didn't take my own advice. Now I am filing a modification, because this unpaid maternity leave that I am on is forcing me too. I think that I may come out of this in less than a 100% payback. I am not quite sure what is going on actually. I've had lots of email communication this past week with the attorney in my BK firm that handles mods and motions to dismiss. He told me that he would be calling today to let me know about my new budget. I'll let y'all know.

[optimistic1]

Well, I personally remember you telling me to wait to file until my wife is off maternity leave and the baby is born. I cant thank you enough, I have about 4 more months to go. My wife and I have like 400 region FICO scores, down from the 650 area. But oh well, I want the 13 to go smoothly. Still no suits, but we are at the charge-off stage for some of the accounts.

[NowImDownInIt]

This is the exact reason I told you to wait. I filed BEFORE I knew I was pregnant and had I known I definitely would have waited. I filed the 11th of July and found out the 24th of July, it was a big surprise and I have been stressed over what would come of it for the past 10 months. Y'all will be fine. I am glad that y'all are waiting, because maybe it means you won't have to go through this. I was dreading it for sure. I feel okay now. I think that I will be much better off once this modification goes through.

[optimistic1]

Yup, its there for a reason, it does cost to file the motion, but, atleast you can. I bet some people have no idea that they can even do it, and just stop paying, but for the educated filer, they know this option exists and they do something about it. Thats why I think the figures they give out about % of failure of Chapter 13 filers is so off the mark.

[NowImDownInIt]

Yes, for me the cost is $450. $250 up front and the rest is rolled into the modified plan. In most cases if you must modify before 120 days after confirmation, it will be covered in the original attorney's fees, but DD was due in April and so that was about 6 months post confirmation.