Where can you safely save money in a chapter 13 plan

[pamkev]

And most of those (us) that filed a chapter 7 are not "thriving" either. A chapter 7 is sort of like having to start all over in life again. That's not pretty at all when you're in your 50's.......

And the importance of saving something every month, even if it's only $50.00 can not be stressed enough. That is the one thing that can help keep you away from the debt monster.

Amen to that frogger

[tobee43]

And most of those (us) that filed a chapter 7 are not "thriving" either. A chapter 7 is sort of like having to start all over in life again. That's not pretty at all when you're in your 50's.......

And the importance of saving something every month, even if it's only $50.00 can not be stressed enough. That is the one thing that can help keep you away from the debt monster.

amen to that! in reference to the chapter 7 and starting all over after decades of the way it "was". i must admit, i approached the savings situation a bit different. besides having the goal in mind to get this place paid off in 36 months (which i will accomplish) i have managed to save to a point where i came to a crossroad. do i keep the money in a bank yielding nothing or do i take the plunge.....i took the plunge and purchased a bond way under par, from a new community college in calif. although leery and skeptical, i almost fell over when we made 3k in 4 months! now, that's the GOOD thing about a 7, you can really start to save.

the other dilemma, do i put more to pay off the mortgage and NOT save at all??? so i just have been splitting it. it's just the realization that we will never have what we use to, nor the time to recoup what we have lost. at this point, we are just happy to being able to save and actually and REALLY living within our means.

oh! i have to add this...we never lived beyond our "means" and our bk was due to medical bills and job losses NOT money mismanagement. those job losses will do it every time!