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And reality sets in. Again...

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    And reality sets in. Again...

    Being optimistic just doesn't pay. I try to see the silver lining when things blow up in my face, but sometimes having my little optimistic bubble popped so thoroughly (yet politely) just cuts me off at the knees.

    Filed in October of 2010 for 60 months. I've had a car loan before, I know how long 5 years is. It's a long time, make no mistake. I've been following my case on the NDC page and watching the "amount owed" column become less and less. About a year ago all the unsecured debt read at "0" and my entire payment was going to the secured stuff. When I do the math, the secured accounts hit zero with February's payment, pretty much to the penny. I thought, "Wow - these attorney people really know how to calculate this stuff down to the nitty gritty!" I even called the Trustee's office several months ago and was told February was when the plan would (and I quote) "conclude." Lucky break..? Me..? I was walking on clouds...

    Today, not so much. With four more predicted payments left, I called the Trustee's office again just to confirm what I had been told previously. I was told what I already knew - 60 months is 60 months. The non-secured guys just get more than their agreed-upon percentages. That is, of course, what I agreed to.

    For my brothers and sisters who are in for 60 months: Five years is a long frigging time. I just passed three years and it feels like it's dragging. I didn't expect to be treated any differently than any other 60-month CH13, but I was sure hoping for once (in a very long time) the stars were aligning in my favor. Just this once...

    23 months left. We've figured it out - how to live with a nearly $3k/month payment (we make decent money, so we have to pay) and still manage the occasional vacation and gifts for the kid. I have learned my lesson. I am damned jealous of those CH7 guys that get to flush it all and walk away. I guess the truth is for me that I don't mind paying - I just looked at the "amount owed" column one time too many and got excited.

    I was ready to do this 37 months ago. I'm just finding my fortitude wearing thin lately.

    --13for60
    Filed Chapter 13 - 10/05/10
    341 Scheduled - 11/10/10

    #2
    Just completed my 5 year plan, 60 months, waiting on discharge, but I experienced the same thing you did as well. Just say positive and try to minimize your viewing of the NDC site until you get closer to end (easier said than done). Good luck to you.

    Comment


      #3
      Keep fighting and good luck. I cannot see where there is any way out unless you can pay the rest of your unsecured debt completely. You could look at the fact that the secured are paid in full as a success. I sure would feel better about it.
      11/23/'10-filed ch 13. 1/6/'11-341, confirmed. Below median. Plan completed 11/30/2015. DISSCHARGED 4/4/2016.JP

      Comment


        #4
        OP you say that you are jealous of the Chapter 7 folks. I do not envy them one bit. I did a Chapter 7 and learned nothing from it. I just went and got myself back into trouble and had to file again. This time a Chapter 13 and it taught me a very good lesson. I now am a firm believer in living on a cash only basis. Those Chapter 7 folks will probably wind up in trouble again and find themselves filing another bankruptcy.

        Comment


          #5
          @spidge - you are 100% correct. Gotta pay the unsecured 100% to get out early. And it will be empowering to look at the titles of the secured stuff and feel a sense of accomplishment.
          Filed Chapter 13 - 10/05/10
          341 Scheduled - 11/10/10

          Comment


            #6
            Originally posted by angel7821 View Post
            OP you say that you are jealous of the Chapter 7 folks. I do not envy them one bit. I did a Chapter 7 and learned nothing from it. I just went and got myself back into trouble and had to file again. This time a Chapter 13 and it taught me a very good lesson. I now am a firm believer in living on a cash only basis. Those Chapter 7 folks will probably wind up in trouble again and find themselves filing another bankruptcy.
            I agree that it is a bit of a mixed blessing. The easy out is what tends to get us folks in trouble.
            11/23/'10-filed ch 13. 1/6/'11-341, confirmed. Below median. Plan completed 11/30/2015. DISSCHARGED 4/4/2016.JP

            Comment


              #7
              Originally posted by angel7821 View Post
              OP you say that you are jealous of the Chapter 7 folks. I do not envy them one bit. I did a Chapter 7 and learned nothing from it. I just went and got myself back into trouble and had to file again. This time a Chapter 13 and it taught me a very good lesson. I now am a firm believer in living on a cash only basis. Those Chapter 7 folks will probably wind up in trouble again and find themselves filing another bankruptcy.
              I agree. I see so many newly 'graduated' (discharged) folks jumping back on the credit report and credit card treadmill that I just cringe when I read some of the posts...
              "To go bravely forward is to invite a miracle."

              "Worry is the darkroom where negatives are formed."

              Comment


                #8
                You are doing great!!! You a little over a year and a half! This is the down hill slide! Good luck you are doing great!
                Discharge date: October 2017 (will it ever get here?)

                Comment


                  #9
                  I am not passing judgement on anyone who has gone through a ch 7 but I can say that being in a 13 in a good thing for us because it has forced us to learn to live on a cash basis. I have no doubt that if we had gone ch 7 we would already have credit cards again and that lesson would never have been learned. This is something new for my husband and it's a good thing for us both. Before you know it, we'll be done. Stay the course and congrats on making it this far.
                  Filed Ch 13 Feb 9, 2012, 341 meeting Mar 15, 2012, Confirmed Apr 5, 2012
                  Anticipated freedom party Apr 2015

                  Comment


                    #10
                    Originally posted by angel7821 View Post
                    OP you say that you are jealous of the Chapter 7 folks. I do not envy them one bit. I did a Chapter 7 and learned nothing from it. I just went and got myself back into trouble and had to file again. This time a Chapter 13 and it taught me a very good lesson. I now am a firm believer in living on a cash only basis. Those Chapter 7 folks will probably wind up in trouble again and find themselves filing another bankruptcy.
                    I/we learned in our 7 that cash is king. If we cannot pay for it, we don't need it. Yes it is tough at times, but at least we are not subservient to anyone. When you accept credit, you gift your liberty to another. There are times when it is unavoidable to use credit, but make it short and sweet. Pay on time and ahead if you can.

                    When our car broke down (Jetta transmission failed) I went online for the reason and how to fix it. VW does not fix their own transmissions, they change them out. $5400 minimum. Car 10 years old. I am handy, so I purchased parts for $398 and tore into the tranny. After all it was broke anyway, what could I do but make a try and gamble. Pleased to say, it runs like new.

                    Point is this: We all can do more than we think we can. I never did that kind of work before, and I never went BK before. I put it into my mind that I can do this, or, give it my best shot. The rest of the five years will go faster than you think. Put your spirits high and look down the mountain, not up. See how far you have come, not how much more you have to go. Best wishes to you all. 'Hub
                    If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

                    Comment


                      #11
                      it's good to have opinions and all should be respected, including yours and thank you for your insight of your experience.

                      chapter 7's are different situations, many are much more complicated than how you may view them. job loss, illness, death of a love one, no way to pay the pauper any longer. those that qualify for a 13 have enough money to manage, one cannot have a budget when there is simply not enough money to budget, while those in 13s usually can establish a learning experience about budgeting and handling their finances many repeat their bad behaviors like anyone else that is human.

                      our reasoning for filing had to with upper manager lay offs, and little thing called cancer. 35 (90 collectively) years of hard work never late on anything in our lives all gone with a blink of an eye. miss money management you may ask?? never. we now own a lovely home and building another to house the entire family, paid cash for a car in june and don't owe anyone a dime other than the new builder because i would like another fireplace. i did nothing different financially when i had to file for a 7, so to be polite, you comment is rather off to the left side of the bk playground.

                      i'm glad your chapter 13 taught you a good lesson, apparently you needed that, but you need to understand a chapter 7 is just a different animal all together. it's good you know how to live on cash now, shoot we always did. but when one wake up even with a reserve and their 6 figure salaries are flushed down the toilet one is in their mid to prime working age, we don't get rehired.

                      the biggest difference between the 13 and the 7 is one could make monthly payment to their creditors , not end up in trouble again. while in the 7 most creditors are wiped out.
                      Last edited by tobee43; 11-05-2013, 05:49 AM.
                      8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

                      Comment


                        #12
                        grrrrrrree...hub how did you beat me!!!!!
                        8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

                        Comment


                          #13
                          Originally posted by tobee43 View Post
                          grrrrrrree...hub how did you beat me!!!!!
                          LOL!. Yes it is difficult to do.
                          If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

                          Comment


                            #14
                            tobee - no disrespect intended. Just venting.
                            Filed Chapter 13 - 10/05/10
                            341 Scheduled - 11/10/10

                            Comment


                              #15
                              We DO understand!
                              "To go bravely forward is to invite a miracle."

                              "Worry is the darkroom where negatives are formed."

                              Comment

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