Chapter 13 Payments More Than 2300.monthly

[CAB_44]

STEP AWAY FROM THE COMPUTER!!

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

JFA~ you make me laugh....!!!!!!!!!!!!!!!!!!
I love it~

[anonymuse]

I'm going to throw out some random thoughts in no particular order.

Are your IRS deductions set such that you are not going to get a refund nor have to pay a tax bill come April 15th?

Is your mortgage in or out of the plan?

Why is your car in the plan?

Have you gone through Schedules I & J with a fine tooth comb and compared to the numbers you came up with from your checkbook balances?

I think a $74K net is a bit higher than what we're used to seeing on here.

Your mortgage is pretty low--how much equity do you have in your house?

$2300 does sound like a lot, but if you kept paying how you've been paying you'd be meeting the monthly minimums without ever making a dent in the actual debt for the rest of your life. At least with a Ch 13, there is an end in sight after 5 years.

I'm sure there's some tweaking that can be done to lower that and this is just your lawyers first run through with it.

Good luck.

[CAB_44]

Thanks for taking the time to make suggestions and offer help Anony~ I appreciate it~
I'm gonna try to answer your questions~
I will actually HAVE to pay IRS this year, because I have NOT made any quarterly pymnts this year~ my husband always claims 0 deductibles until we file, as this helps us some...and at the end of the year, I usually owe, but only about 800.-1500. Don't get me wrong~coming up with that money is almost unbearable...in fact, I've used a few VISAchecks to pay some of it.... if we owed at the end of the year...which we usually do
attorney said that they could figure those in this first year, but after that we would need to pay quater payments on time....

Mortgage is OUT of plan and we are current

One vehicle is in the plan to reduce interest charges? I thiknk that's what she said...I don't remember....I was still in "2300.00 monthly payment for 60 months land at that time"...........

Only have about 5K in equity ....have refied many times.....2 years ago most recent, although, we could make about a 25K profit if sold....but don't want to~ we've done TOO much to it in the 9 yrs we've had it....

Yes schedules I and J look good....infact, attorney put some higher allowables in there for us........

not sure where this all will lead~

[IN-DEBT]

Am I wrong, or will you be paying back $138,000 over 5 years on $96,000 of debt? I'm in the same boat as you with about 75,000 net income between us. We are not confirmed yet but our attorney figured our payment to be $435.00 per mont at about 20% of our total cc debt. We also made terrible decisions. I hope you talk to another attorney. The one item that I have much higher than you is my mortgage is around 1850.00.

[anonymuse]

Seems like you should be able to decrease that amount some by putting those quarterly payments in there now to catch up so you won't owe the IRS in April. (I'm assuming the plan hasn't taken that into consideration yet.) Just depends if the lawyer will calculate the $800-1500 to be spread onto payments for the end of the year ($270-500 per month)--since that is technically when taxes are due or until April. And then in 2007 is should be figured in as quarterly payments. IRS is a priority creditor so make sure its in the plan now so you don't have to be making modifications to it next April.

[anonymuse]

Am I wrong, or will you be paying back $138,000 over 5 years on $96,000 of debt?

I think she means $96K cc debt plus a car in the plan.

[CAB_44]

Am I wrong, or will you be paying back $138,000 over 5 years on $96,000 of debt? I'm in the same boat as you with about 75,000 net income between us. We are not confirmed yet but our attorney figured our payment to be $435.00 per mont at about 20% of our total cc debt. We also made terrible decisions. I hope you talk to another attorney. The one item that I have much higher than you is my mortgage is around 1850.00.

WOW...
yes 96K plus, I think she realized something was WRONG, but one of our vehicles is included in payback....a 22K vehicle.....
our HP is only 883. that's w/ tax/ins.
3 in household
I am considering taking with another attorney if she doesn't come up with some better number than that.......I would rather lose the 575. fees already paid....and spend another 150.. an hour on another attorney to find out what she really screwed up on......I'd still come out ahead.......
It's exhausting......

[CAB_44]

Seems like you should be able to decrease that amount some by putting those quarterly payments in there now to catch up so you won't owe the IRS in April. (I'm assuming the plan hasn't taken that into consideration yet.)

I do think she said they would be included~somehow......
I just can't tell you how "messed up" my thinking was that day you guys...it's like I was in a fog over the rest of the session.....all I saw from the minnute we sat down...besides my husband nearly having a coronary.....and then I realized WHY..... was the figures for myself starin' me right in the face....and husband is not here tonight~ so I can't ask him all the specifics to these questions I am being asked~sorry .....I just kind of "zoned out"....not sure I'm back yet....it's like a BAD dream.....NIGHTMARE

[anonymuse]

It's liking going to the doctor's office and hearing cancer--after that, you have no idea what was said since you're in shell shock. Take a deep breath (don't forget to exhale) and set some time up with your husband to review it tomorrow after you've had a good night's sleep. A small glass of wine might not hurt either. ;)

[CAB_44]

It's liking going to the doctor's office and hearing cancer--after that, you have no idea what was said since you're in shell shock. Take a deep breath (don't forget to exhale) and set some time up with your husband to review it tomorrow after you've had a good night's sleep. A small glass of wine might not hurt either. ;)

YES anonymuse!!!! Actually a Mike's Hard Lime is my choice....don't care for wine, don't know why...
Well...I have all weekend to "reminisce"....because my husband is gone for the whole weekend.....I will talk with him, but he is with his family, and they don't know about this....so, i'll just wait til he gets home...he is so much better at thinking clear even when the chips are down....don't know what i'd do without him....without me, on the other hand...he's be a lot wealthier...............................

[treehugger1]

Try $2500 - $2700 for me if every creditor actually responds. My attorney believes there will be enough who don't claim, that the final plan will come in around $2200. This is quite frightening since my income will decrease between January 07 and September 07. I can't argue with the amount given my past 6 months income, but will have to rely on a future modified plan if I file in the next 60 - 90 days. I will defintiely need to put some cash away for the rainy day months.

[CAB_44]

Well TreeHugger~
We'll be in each others good company~

I'm thinking maybe we need to look at another attorney....even though we've paid her some money~ to lose that would be worth finding out if another attorney comes up with the same figures.......just dang hard to believe~
I've been at my kitchen table all evening...most of it anyway, was on here some earlier~ going through my last years credit card statements....
this is gonna knock some of you's socks off.....
From Jan 06 - June 06...I have paid almost 15,000.00 in CC payments
Last year I paid over 19,000.00 and this does NOT include some store cards....gas cards~
not to mention my car payments, house payments...it's truly a wonder I am still alive and have this roof over my head, that is STILL current......that's a shock actually.......
in 18 months time I have paid almost 35K in CC debt payments....and I STILL have 96K + CC debt starin' me in the face........
I sat my sweet 17 yr old daughter down this evening and showed her what this all amounts to.....MADE SURE she understands that it's NOT HER FAULT....that's NOT why I am showing her....I am showing her how 5K innocent CC debt 15 yrs ago, has SNOWBALLED into 96K DEBT.....SO SHE WON'T GET THERE..........
i'M DONE WITH THE CRYIN'.....NOW I'M GONNA GET SERIOUS~ THIS IS NOT GOING TO BE ME IN 5 YEARS...I'm gonna GET OUT OF THIS: yahoo:

Let's keep each other in our prayers guys~
I pray that EACH and EVERYONE of you gets the BEST attorney, and WE ALL GET THROUGH THIS WITH SERIOUS HATE FOR CREDITCARD DEBT.......
and DON'T end up here again......

And please remember 13inOR ......their surgery goes well in a few days......
Blessings to ALL!!!!!!

[JusticeForAll]

CAB_44, I have to give you a TREMENDOUS amount of credit (oh-pardon the pun, that was unintentional ). You are a true survivor and you have true grit.

I don't know if I could have as positive an outlook as you do right now. I filed under old law, first a Chapter 13, then after an extended period of unemployment after filing, converted to a Chapter 7 (also old law). All I had to do was play the waiting game. But it DAMN NEAR KILLED ME!!!!!!!!!!!! I cried every day and made myself sick over it, right before discharge I was seriously on the verge of a nervous breakdown and my husband was actually starting to think he should have me hospitalized (thank god the discharge came only two days after he started talking like that). In the two days prior to our discharge I could not function. I was stuck sitting on the couch crying every waking minute.

If I were faced with what you are, I don't know what I'd do.

I commend you! I can tell, you will get through this and you'll come out of the other side of the tunnel.

I admire your tenacity! Go Cab go!

Well TreeHugger~
We'll be in each others good company~

I'm thinking maybe we need to look at another attorney....even though we've paid her some money~ to lose that would be worth finding out if another attorney comes up with the same figures.......just dang hard to believe~
I've been at my kitchen table all evening...most of it anyway, was on here some earlier~ going through my last years credit card statements....
this is gonna knock some of you's socks off.....
From Jan 06 - June 06...I have paid almost 15,000.00 in CC payments
Last year I paid over 19,000.00 and this does NOT include some store cards....gas cards~
not to mention my car payments, house payments...it's truly a wonder I am still alive and have this roof over my head, that is STILL current......that's a shock actually.......
in 18 months time I have paid almost 35K in CC debt payments....and I STILL have 96K + CC debt starin' me in the face........
I sat my sweet 17 yr old daughter down this evening and showed her what this all amounts to.....MADE SURE she understands that it's NOT HER FAULT....that's NOT why I am showing her....I am showing her how 5K innocent CC debt 15 yrs ago, has SNOWBALLED into 96K DEBT.....SO SHE WON'T GET THERE..........
i'M DONE WITH THE CRYIN'.....NOW I'M GONNA GET SERIOUS~ THIS IS NOT GOING TO BE ME IN 5 YEARS...I'm gonna GET OUT OF THIS: yahoo:

Let's keep each other in our prayers guys~
I pray that EACH and EVERYONE of you gets the BEST attorney, and WE ALL GET THROUGH THIS WITH SERIOUS HATE FOR CREDITCARD DEBT.......
and DON'T end up here again......

And please remember 13inOR ......their surgery goes well in a few days......
Blessings to ALL!!!!!!

[CAB_44]

CAB_44, I have to give you a TREMENDOUS amount of credit

If I were faced with what you are, I don't know what I'd do.

Easy now JFA~ LOLLOL....I'm not there yet.......LOL
I have my moments and days~
But after looking over statements, I see that I actually paid MORE than 2300.00 a month. So if that's all I have to pay~ which absolutly makes me want to be SICK....I was paying MORE and that won't be there....so, maybe it won't be all that bad~ until something of course tragic happens....plumbing...electrical....who knows~ kids are growing up and moving out, so you know, they have their own stuff....
BUT~ with WINTER moving in...I could be in a serious depression~ about January....I HATE WINTER.........and in January I usually have a hard time with living anyway~ thankful that Okla. doesn't have too harsh of winter's..I don't know how anyone east and north of me does it...
I know that I will have really bad days...but then I come here, and things look up~ it's ALL of you great people who get me going and get me through some of this doo doo~ we're in good company~ and you're one of those people for me JFA~ Thank you!!!!!!!!!!!!

[JusticeForAll]

Thank you Cab, that was very sweet!

I dont' like winter either, but somehow I do get through it.

And yes, when you do have a bad day, stop by here! Talk to us, and you can PM me ANYTIME! I'll always be here for you.

We've all been through it, or about to through it.....been there, done that, bought the T-Shirt (well, okay, I charged my T-Shirt)

Easy now JFA~ LOLLOL....I'm not there yet.......LOL
I have my moments and days~
But after looking over statements, I see that I actually paid MORE than 2300.00 a month. So if that's all I have to pay~ which absolutly makes me want to be SICK....I was paying MORE and that won't be there....so, maybe it won't be all that bad~ until something of course tragic happens....plumbing...electrical....who knows~ kids are growing up and moving out, so you know, they have their own stuff....
BUT~ with WINTER moving in...I could be in a serious depression~ about January....I HATE WINTER.........and in January I usually have a hard time with living anyway~ thankful that Okla. doesn't have too harsh of winter's..I don't know how anyone east and north of me does it...
I know that I will have really bad days...but then I come here, and things look up~ it's ALL of you great people who get me going and get me through some of this doo doo~ we're in good company~ and you're one of those people for me JFA~ Thank you!!!!!!!!!!!!