Hi all. Long-term lurker, first-time posted. Sorry if I could have used the posted info to find most of this out myself.
My wife & I filed Ch13 jointly Nov 17th. Out 341 was Dec 29th. Today we received our notice of No Objection
from the Trustee. However, I'm very worried about the creditors (duh!). Our case was complicated by several factors:
1) we included 3 cars in the payment plan & the attorney filed as a 0% non-secured plan, 3-year. My teenage daughter has the 3rd car, but I also occasionally driver her's as both my wife's & my cars are high mileage. I would think the unsecureds would object to them getting nothing while we keep 3 cars. I wouldn't have accepted the 5 year route as by the end of the 3-year, my car's mileage will approach 200k.
1b) Since it is 60 days from 341 to when creditors can file objections, this menas in about a month I should find out if/what these creditors are obejcting to. I was told by my attty that this trustee was "bk friendly" & it appears so by him not having objections; not only the cars issue but we are just under the median income & some of our expenses listed exceeded the IRS standards (i.e. listing them at those standards would free up $$ for unsecureds).
2) We included a few payday loans in the unsecured. I had put a stop payment on the checks. I haven't heard a peep from the loan places since I called them 2+ months ago but always woory they will still send a summons to my job for a wage garnishment atttempt (trying to usurp the BK). I assume here I am being over-cautious.
We filed a Ch 7 5 years ago (I wish 6) and would contemplate converting when I can if the required payments change. Hopefully they won't & we will try to live within our means.
Please don't hate us if your situation was much more dire than ours. Two months in & we definitely feel like slaves to this process & our marriage is very stressed. On the one hand, we each got simultaneous (but from different creditors) garnishments on our income just before we filed. If we hadn't, we would now be paying about $800/month, which we cetainly didn't have extra. So we filed, we have the payment garnishment taken out, we occasioanlly bounce checks to make it to the next payday, we don't eat out & sometimes I run on fumes to get home from work. I would LOVE to get a part-time job, but they would probably take that income from me.
Thanks for your advice.
My wife & I filed Ch13 jointly Nov 17th. Out 341 was Dec 29th. Today we received our notice of No Objection
from the Trustee. However, I'm very worried about the creditors (duh!). Our case was complicated by several factors:1) we included 3 cars in the payment plan & the attorney filed as a 0% non-secured plan, 3-year. My teenage daughter has the 3rd car, but I also occasionally driver her's as both my wife's & my cars are high mileage. I would think the unsecureds would object to them getting nothing while we keep 3 cars. I wouldn't have accepted the 5 year route as by the end of the 3-year, my car's mileage will approach 200k.
1b) Since it is 60 days from 341 to when creditors can file objections, this menas in about a month I should find out if/what these creditors are obejcting to. I was told by my attty that this trustee was "bk friendly" & it appears so by him not having objections; not only the cars issue but we are just under the median income & some of our expenses listed exceeded the IRS standards (i.e. listing them at those standards would free up $$ for unsecureds).
2) We included a few payday loans in the unsecured. I had put a stop payment on the checks. I haven't heard a peep from the loan places since I called them 2+ months ago but always woory they will still send a summons to my job for a wage garnishment atttempt (trying to usurp the BK). I assume here I am being over-cautious.
We filed a Ch 7 5 years ago (I wish 6) and would contemplate converting when I can if the required payments change. Hopefully they won't & we will try to live within our means.
Please don't hate us if your situation was much more dire than ours. Two months in & we definitely feel like slaves to this process & our marriage is very stressed. On the one hand, we each got simultaneous (but from different creditors) garnishments on our income just before we filed. If we hadn't, we would now be paying about $800/month, which we cetainly didn't have extra. So we filed, we have the payment garnishment taken out, we occasioanlly bounce checks to make it to the next payday, we don't eat out & sometimes I run on fumes to get home from work. I would LOVE to get a part-time job, but they would probably take that income from me.
Thanks for your advice.
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