finally filed today

[kjrmom911]

Well today was the day. We filed our Chapter 13. It went ok, a little different than I thought. Definitely seems like a numbers game. We signed for 4 years for 311 a month . paying our car outside the bk (which is what I wanted). If the trustee rejects and says no needs to be 5 years then the car will be filed withing so it wont make much different on our payments. Would be nice to be done in 4 instead of 5 though. The attorney seemed confident that there would be no problems, but I will worry until we get confirmed (thats just the way I am). I often wish my husband wasn't self-employed, it makes everything so much more complicated. It did feel good to get the signing over with though.

[newbie2]

Good luck to you! Just remember to stash money aside during the "good" months so you have it for the lean months. (Being self employed and in a 13 can't be easy!)

[IamOld]

Best of good luck!!!!

[catleg]

Good luck to you! Time goes fast, you'll be done before you know it.

[lrprn]

@kjrmom911, congrats on the filing and best of luck to you! May the next however many years of your plan go by uneventfully and quickly!

Just curious.....how was your lawyer able to set up a four year (48 months) rather than a five year (60 months) Ch 13 plan? Is your plan paying back 100% to your unsecured creditors?

[kjrmom911]

lrprn...I wondered that myself. We are not in a 100% payback to the unsecured creditors. She said we pass the means test (but we needed to file chapter 13 in order to pay our tax debt and strip our 2nd mortgage), im not sure what the percentage is, but I know its not anywhere close to 100 %. She said the trustee may not go for the 48 months and may force us into the 60, but she felt fairly confident it would get approved. We will see.

Just another thought, there was difficulty in adjusting the "numbers" to get us showing enough dmi to pay off the irs debt/the trustee/and the lawyer. I don't believe any creditors were listed as getting anything..pretty sure its 0% for all unsecured. We had to cut from some of our expenses to get it work and I think the lawyer felt like 3 years would be too big of a payment. I always thought it had to be 36 months or 60 months also, so maybe my lawyer needs to be educated.

[wcb77407]

uhg that reassuring that a lawyer handling a very important part of your life needs to be educated..

[lillymarlene]

I'm in a 48 month plan too, and not 100% payback. I was originally going to be in a 36 month, but before filing had to add on another large unsecured creditor and it would have boosted my payments per month close to $300. I was more comfortable with being closer to $200 than $300, so I asked my attorney about a 48 month. My plan was finally confirmed 7 months after filing.