Life after filing chapter 13. New median income

[Lisa2525]

I have a few questions....

From what I read on one of the forums it looks like the household median may change next week. It that correct? I know it can go up or down but will the number for the exemtions For the means test change also? Does it look like they will indeed increase or decrease?

If they decrease my husband and I will not beagle to file chapter 7. We are actually in the planning phase right now. Weay be forced into a 13. I'd like to know how people are dealing with life after 13. Are you able to vacation? We have 3 small kids and haven't been able to do much with them in years because of our financial situation. It's hard to even go bowling, to the movies, zoo or anything that can add up with 3. Will we be able to do that type of thing every once in a while?
Also, how often does the trustee look at income and chane your payment plan. I would love to in the very least save money for once but I am scared they will take everything extra. Please shed some light on this. I'm very nervous if it will even be the right choice. I can't imagine having someone look over our backs at everything we do/ spend for 5 years.

[walkthaplank]

Median income is only part of the equation. If you do not have adequate disposable monthly income after allowed expenses are applied to your income on the means test, you cannot fund a 13 and are able to file CH7.

Talk to a few lawyers and see where you sit.

[justbroke]

While in my Chapter 13, I went to SeaWorld, DisneyWorld, and Busch Gardens. Of course, I live in central Florida, so that helped! Took the AMTRAK train most of the times ($10 each way!!!). In any event, getting a plan that WORKS for you and allows you to save and keep a budget is the most important thing. Yes, money was tight, but I made sure that we did a family thing once a month, whether it was renting a bunch of movies and having "movie night" with pizza, or heading to the theme parks (where I already had 2-year "annual" memberships).

Once you have your budget (Plan), you should be able to save... and saving is important for emergencies.

[momofthree]

We have annual passes to a theme park that is a little over an hours drive from our home. We bought them during a "special" buy-1-day-get-the-year-free deal. It was around $250 for our family of 5 with unlimited free parking as well. So, all it costs is 1/2 tank of gas and fast food each time we go. We were also able to keep our paid-off timeshare when we filed, so each year we take a getaway to Vegas or Palm Springs for 4 days at a time. We take all our food (full kitchen at the timeshare), so again, all it costs is gas + small activities. Luckily both Palm Springs and Vegas have a ton of free activities.

Once you learn to save carefully and live within your means, you will find ways to fund small vacations & other activities. If I can do that on MY small budget ($20k under median with bare-bones budget), then ANYONE can do it!

[rjd78]

I can't imagine having someone look over our backs at everything we do/ spend for 5 years.

I'm 2.5 years into it and I don't feel this is how it's gone for me at all. I send it my tax returns and the only time I've had my attorney contact me about anything is when he copies me in on my change of address and any additional paperwork that's been filed.

I've mentioned it in a few threads but I just pay my monthly amount and forget about it all. I also make twice as much money as I did when I filed and the trustee hasn't asked for anything additional. Now, I've heard horror stories contrary to mine, but for me, it's been smooth sailing.