Signed our pleading today....NOT! Going 7?

[NowOrNever]

Had our attorney meeting today to sign our pleading. To this point, after the initial consultation, I had been dealing primarily with the paralegals. Today we had a four hour meeting with the attorney. He has suggested we do a 7 rather than a 13. He believes our chance of success with a 13 is not great because our income to expense ratio is too close. Barely any disposable income to give.

We will go back in a week or so to go over the papers for a 7. I had reconciled myself to 5 years in a 13. Now we may be making a hard turn in the other direction. My nerves are really shot now!

[robivi3]

Go for the 7, it will end!!!

[Jman30]

If you have a choice, I would go for the 7. I know the 7 stays on your credit for 10 years and a 13 only for 7, but a 13 is HARD.

I am 18 months into a 48 month 13 and it dosen't get any easier.

[SinkingFast]

Nothing about BK is easy.

Making the decision to file is gut wrenching.

Then thinking you'll be in a Ch 13 for 5 years only to have that change on a moment's notice musta been a real shocker!!

It's a roller coaster we're on. And no matter how much we scream "STOP" the rider operator doesn't listen. Someone will pull the brake when it's time. And not before that.

At least this way, with a 7, it'll be relatively quick. Like our attny said, "Your life is back to normal in 4-6 months." Whatever normal can be for a person post BK??!!

[jane taylor]

If we could've done a 7, I'd have done it in a heartbeat. Being in a 13 is no fun whatsoever. It is a comfort to know that the bills are getting paid, but there is that nagging, "What if?"

jane

[Jman30]

If we could've done a 7, I'd have done it in a heartbeat. Being in a 13 is no fun whatsoever. It is a comfort to know that the bills are getting paid, but there is that nagging, "What if?"

jane

Exactly. It is just so hard having all your disposable income taken every month. There is no wiggle room for emergencies, birthdays, holidays, etc

Although a 7 is considered "harsher", I would have have done it in a second if we hadn't wanted to keep our home so badly.

[NowOrNever]

That's what he told us - 6 months and it would be done. I told him I can't let the house go and he said it is covered by exemption. There are a few things that aren't, that we may have to sell, but I could live with that. Or, apparently, we can make a payment to the trustee to cover what's not exempt. Not sure where I'd find that money, but it seems a viable option.

You should've seen the looks on our faces when he said "Why were we thinking 13 for you?" It was my income, but our expense load is very high. I don't have anything left at the end of the month even now - after cutting out the CCs. I have no idea how I was paying it all...well, yes I do. I spent too much time robbing Peter to pay Paul when I should've done the BK thing a long time ago.