Chapter 13 Payments More Than 2300.monthly

[CAB_44]

Okay~ so some of you already know this...
We went to our attorney yesterday with the intention to file...
We about CROAKED when she showed us what our payments would probably be.....
$2300.00 a month for 60 months...can you believe it???????
That's MORE than the debt to pay back.... a 100% + payback....
one of the cars would be included in the Chap 13...
We net 74K yearly
Our CC debt is 96K ...
cars about 39K left on notes total(2 cars)
mortgage 883.00 monthly (includes taxes/ins) both cars and mort. are current
1 dependant ....high school
they say our disposable income is about 2300.00 a month....
this is unbelievable.........I have BEEN paying this much a month on them, and that's why I am doing BK...because I CAN'T do it anymore....
Attorney is going to "tweek" the numbers some....
State is OKLAHOMA~
Anyone got any ideas????????

[FilingOnMyOwn]

If you'd have to pay it all back anyways, why even file?

[CAB_44]

EXACTLY~
Attorney's response was...well, it stops the interest and late fees.....

[CAB_44]

Needless to say...
WE DIDN'T FILE~
Still waiting

[CATCHMEIFYOUCAN]

Gheesh !

And I thought my payment was bad ... SHREWWW .. i feel for ya !

Catchmeifyoucan

[miss puff]

Jeeez. Can you check with another attorney? Or have you already hired this one? I couldn't even imagine being stuck with that payment for 60 months. I would go bankrupt by being bankrupt!

[CAB_44]

Well, we have paid the retainer fee....
and I did give her the filing fee...
But hubby and I have decided that if her numbers aren't "better" than 2300.00 we are going to see someone else, and pay him an hourly fee
(I have already had a 1/2 hour consult with him) and show him the schedules and see what he has to say~
She is supposed to get with us next week sometime.....

[JusticeForAll]

I think that is a great idea!
I have never heard of a $2300 payment for 60 months, it's absurd!

At 100% payback what is the point? Interest and fees will stop and that's a good thing, but HOLY COW!!!!!!!!!! My head is spinning!

Well, we have paid the retainer fee....
and I did give her the filing fee...
But hubby and I have decided that if her numbers aren't "better" than 2300.00 we are going to see someone else, and pay him an hourly fee
(I have already had a 1/2 hour consult with him) and show him the schedules and see what he has to say~
She is supposed to get with us next week sometime.....

[CAB_44]

Yeah JFA~ your head and mine both!!!!!!!!!!!!!!!!!
Well hey~ we look like something from the exorcist.......................LOLLOLLOL
Geessssss~ gotta laugh right????????????????!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[JusticeForAll]

Hey as long as we don't start puking green pea soup, we might just come out of this okay!

[CAB_44]

Ugh......just so you know...that COULD happen any minute now.......LOLLOL

[JusticeForAll]

STEP AWAY FROM THE COMPUTER!!

Green puke is REALLY hard to get out of the keyboard!

[SinkingFast]

From the reading I've done, over the Median Ch 13 filers, the Court looks at the disposable income at the end of Form B22C. The Means Test for Ch 13 filers.

So you're saying, once your attny goes thru and deducts Schedules allowables in filling out the Means Test, that Form B22C says you have $2300/mo in "disposable income"???

This is quite surreal to say the least!!

[Credit Hater]

I would make a serious lifestyle adjustment....move and find cheap rent, a new low paying job if possible, wait it out as long as possible and then file ch. 7....as long as your hubby can deal with it, thats what I would do.

[CAB_44]

From the reading I've done, over the Median Ch 13 filers, the Court looks at the disposable income at the end of Form B22C. The Means Test for Ch 13 filers.

So you're saying, once your attny goes thru and deducts Schedules allowables in filling out the Means Test, that Form B22C says you have $2300/mo in "disposable income"???

This is quite surreal to say the least!!

Not sure about the B22C form SF.....she only gave us the Schedule I and J form to look at....and I don't see that B22C number....I need to go to the means test web site and look it up....I thought I had that web-site saved and I must have deleted it......
I'm looking for it~

but, yes, she said that this was our disposable income....it does include our highest car payment...so if that is the case, it would actually be I guess about 1837.00 monthly + the 463.00 car pymnt.
It still sounds high~
I have a PM to INTERLAW, but they haven't responded yet......

this is wearin' me down~ I've looked over a few of my checkbook rosters and totaled up a years worth of actual credit card payments and it looks like they were higher than I thought they were....I actually paid in on average almost 3100.00 a month on CC alone.....maybe we make more money than I thought.....and because I was trying to pay out so much thinking I was paying them "down" (but we ALL know about that one don't we ) we could actually take on the 2300. monthly.....that sounds absurb to me.....but I am thinking that maybe I need to really look at my books and obviously my spending and where it goes, and my heart here, and see what my problem is.....this has been a real eyeopener for me....I guess that's what it's all about....kind of like saying someone with a substance addiction (mine must be money) finally decided to ADMIT they have a problem.......we do make GOOD money~ but made POOR choices....but if I have actually been paying up to 3100. monthly on them with interest...in 5 years (without interest) after the dismissal, we could be ROLLING in money.....could almost retire at 58...60 for sure.........hhhmmmmmmm.....I need to do some "soul searchin' " here~
I still think that 2300.00 sounds high, but truth is ....maybe not