I am getting ready to file Chapter 13. I have a good job and make a nice salary, but I got laid off from my job in November 2008 and spent 3 months unemployed. That got me behind on all of my unsecured debt. When I got my current job, I tried hard to catch up and pay as many creditors as I could, but there were still 3 credit cards I just couldn't make the payments on. Back in September, one CC company threatened to file a lawsuit and garnish my wages. So here I am.
I owe about $80,000 in unsecured debt, $7,000 on my car and have $35,000 in student loans. I live in Florida. I have paid my legal fees and received my draft petition. I was astounded to learn that my monthly payment was going to be $1200! This was what my attorney tentatively proposed and told me that my disposable income was actually closer to $1400. There's just no way. After going through it with a fine-tooth comb, I discovered that my attorney didn't calculate the amount of taxes that are deducted from my paychecks accurately. It was off by almost $400 per month! I don't understand this since I gave him 6 months worth of pay stubs. It's always the same so how does one screw that up? I am a little nervous that my attorney might not be one of the best and brightest, but if I am missing something here, I'd appreciate some insight.
I also may be eligible for a performance bonus this year. My company is being very weird about it, I currently have no idea if I will be receiving a bonus or how much it might be. All I know is that IF I receive one, it will be paid out in 3 weeks. Does anyone know if I would be able to keep it? From everything I've read, it depends on the timing of filing. I do have a meeting set up with my attorney tomorrow and I plan to hit him with all of this. I was just hoping to get some insight before then! TIA!
I owe about $80,000 in unsecured debt, $7,000 on my car and have $35,000 in student loans. I live in Florida. I have paid my legal fees and received my draft petition. I was astounded to learn that my monthly payment was going to be $1200! This was what my attorney tentatively proposed and told me that my disposable income was actually closer to $1400. There's just no way. After going through it with a fine-tooth comb, I discovered that my attorney didn't calculate the amount of taxes that are deducted from my paychecks accurately. It was off by almost $400 per month! I don't understand this since I gave him 6 months worth of pay stubs. It's always the same so how does one screw that up? I am a little nervous that my attorney might not be one of the best and brightest, but if I am missing something here, I'd appreciate some insight.
I also may be eligible for a performance bonus this year. My company is being very weird about it, I currently have no idea if I will be receiving a bonus or how much it might be. All I know is that IF I receive one, it will be paid out in 3 weeks. Does anyone know if I would be able to keep it? From everything I've read, it depends on the timing of filing. I do have a meeting set up with my attorney tomorrow and I plan to hit him with all of this. I was just hoping to get some insight before then! TIA!
