Just got my payment amount and about to scream!

[texas69lady]

OK I got a call today to go sign our papers tomorrow morning. Paralegal said our payment would be $1100.00 a month now that's with the house payment included. Now I have two questions.
1st: Is this with 100% of unsecured credit card payback, I thought some people only pay a percentage of unsecured. They are adding late mortgage payments, late taxes, and a old student loan and of course our furniture as secured.

2nd: When will this payment be first due? She said in 30 days from when we file. It will take 30 to 45 days for the 341 meeting from what she says "then do we pay right there and then?"

Next that only leaves us with $125.00-200.00 to live on for a family of five every week and we are so worried this will be SO difficult. Now I understand why only 35% make it through the chapter 13.!!!!

We live in Texas. If that matters and we were told we could keep our tax refund. But one more question. If I,the wife goes back to work will they deduct more from my husbands check? It is going to be garnished.

[lrprn]

1st: Is this with 100% of unsecured credit card payback, I thought some people only pay a percentage of unsecured. They are adding late mortgage payments, late taxes, and a old student loan and of course our furniture as secured.

You won't know what % payback is to your Ch 13 creditors until you see how many file claims.

2nd: When will this payment be first due? She said in 30 days from when we file. It will take 30 to 45 days for the 341 meeting from what she says "then do we pay right there and then?"

Your first Ch 13 payment MUST be made within the first 30 days after you file. If your payment is coming out of your paycheck, you must be sure the payment is in the trustee's hands within 30 days of filing or pay it yourself. This is crucial or your case can be dismissed - a very bad thing!

Next that only leaves us with $125.00-200.00 to live on for a family of five every week and we are so worried this will be SO difficult. Now I understand why only 35% make it through the chapter 13.!!!!

This is cutting things really, really close, Texas. Go over your filing with your lawyer again - don't sign until you are convinced there's nothing you've forgotten. You are going to have a very hard time making it with this little every month.

If I,the wife goes back to work will they deduct more from my husbands check? It is going to be garnished.

After your case is confirmed, your payment is set. If you go back to work after your case is confirmed, unless your trustee has instructed you to inform him/her about a certain level of income increase, then you should be able to use the extra to pad the very little money you have right now to live on after your monthly payment.

Frankly I'm apprehensive about your ability to make it for very long with so little left over, Texas . Please talk with your lawyer before signing your papers. Tell him/her that you aren't going to make it on what you are going to have left over. Make certain that you have accounted for all your expenses....and make those expenses reasonable ....not what you may have actually been paying while you were totally broke. I hope everything works out for you....keep us posted what you find out, ok?

[texas69lady]

now you got me alittle scared to sign the papers. Is the payment so high because our expenses were low?
I tryed $500.00 for grocery's per month...200.00 in gas per month.....200.00 light bill...and 60.00 water bill. Then 10 for internet and 50.00 for clothing which I should of put more for my kids. And insurance 30.00 and 53.00 that does it for expenses so is that why the darn payment is so high? OH and two personal auto loans which are 53.00 and 68.00 per month. Now I don't think that gives us enough money to pay those bills. I think we might be begging for welfare to help with food.!!! REALLY

[B12]

Irprn is correct. You need to talk to your lawyer about expenses you might have forgotten. I can't believe he didn't provide you with some kind of list of expenses or question your low expenses for a family of 5.

Family of 5 with a clothing allowance of only 50.?

There is a thread here or a link that is furnished that lists expenses you might not have thought of. It was very thorough but I cannot remember where I saw it.

Maybe someone else remembers it?

[lrprn]

now you got me alittle scared to sign the papers. Is the payment so high because our expenses were low?
I tryed $500.00 for grocery's per month...200.00 in gas per month.....200.00 light bill...and 60.00 water bill. Then 10 for internet and 50.00 for clothing which I should of put more for my kids. And insurance 30.00 and 53.00 that does it for expenses so is that why the darn payment is so high? OH and two personal auto loans which are 53.00 and 68.00 per month. Now I don't think that gives us enough money to pay those bills. I think we might be begging for welfare to help with food.!!! REALLY

Tell your lawyer that you realized that you didn't provide the right figures for your expenses. Increasing them may not make a huge difference, but it's well worth seeing what difference more realistic expenses for your family size will make for you.

Figure out what you reasonably need, then give those expenses to your lawyer and ask him/her to redo your forms. You have nothing to lose but a few days and it could make the next five years much more do-able.

Keep us posted on what happens, texas - all of us want you to be successful in your Ch 13!

[texas69lady]

if anybody knows this website PLEASE let me know I have to go sign the darn papers in the morning. THANK YOU for your help !!!!!!

Bye the way Our house is scheduled for foreclosure SEPTEMBER 4th. So by delaying can hurt us considering tomorrow is Thursday and Monday is a holiday. Tuesday is county courthouse sale.

[B12]

[lrprn]

if anybody knows this website PLEASE let me know I have to go sign the darn papers in the morning. THANK YOU for your help !!!!!!

Here it is, Texas - http://www.ca-bankruptcy-attorneys.c...alculator.html

And here's another website to help you figure out what's reasonable in your community for some common expenses - http://realestate.yahoo.com/neighborhoods Just put in your zipcode or city/state

Hope this helps! Go through those papers line by line. This is your one chance to make things right easily. After filing it can get a lot more complicated and sometimes costs money to fix.

Good luck tomorrow. Let us know how it goes, ok? We're all rooting for you!

[Granny]

Paralegal said our payment would be $1100.00 a month now that's with the house payment included. Now I have two questions.

Is this with 100% of unsecured credit card payback, I thought some people only pay a percentage of unsecured. They are adding late mortgage payments, late taxes, and a old student loan and of course our furniture as secured.

Next that only leaves us with $125.00-200.00 to live on for a family of five every week and we are so worried this will be SO difficult. Now I understand why only 35% make it through the chapter 13.!!!!

We live in Texas. If that matters and we were told we could keep our tax refund. But one more question. If I,the wife goes back to work will they deduct more from my husbands check? It is going to be garnished.

This sounds very much like what my initial payment scenario was like. It sounds as if you have so much secured and priority debt that the attorney may have been forced to calculate the payment at that amount to cover just those things and that left very little for living expenses.

Ask your attorney how much is going to the unsecured creditors. If it is zero or next to nothing, then your payment is based on what is needed to pay the secured debts.

I had to give up a secured asset and file an amended plan, which reduced my payment thereby allowing a more reasonable budget for living expenses. You might consider giving up the furniture. I realize what I am suggesting, but sometimes we have to do things we don't want to do in order to just put food on the table.

Why is your house payment included in your plan? You are paying the trustee to make your house payment for you, and he/she will be getting 10% of each payment. If at all possible, see if you can keep the normal payment outside of your plan. Even with late payments you should be able to make your regular payments outside of the plan. Doing that will give you more spendable money each month.

What district are you in? I am in the Northern District of Texas and my attorney told me that once I was confirmed, future increases in income wouldn't matter. I hope that is the case for you too. My trustee however, will keep any tax refunds that are greater than $2000. If you are in the same district, double check on this.

[B12]

Just found it.

http://www.usdoj.gov/ust/eo/bapcpa/20061001/bci_data/national_expense_standards.htm

[B12]

Make sure you scroll down to the 4 person household and then down one more time to add for the 5th person.

Find your GROSS income at the top and look at the allowance for 4 people then add the amount for the 5th.

[lrprn]

http://www.usdoj.gov/ust/eo/bapcpa/2..._standards.htm

B12 - this website provides figures for bk cases filed between Oct 1, 2006 and Jan 31, 2007.

Texas, here are the IRS national standards for allowable living expenses for bk cases filed after Feb 1, 2007 - http://www.usdoj.gov/ust/eo/bapcpa/2..._standards.htm

Frankly, your lawyer should have an idea of what your trustee is going to accept for living expenses given a family of your size. Ask him for advice!

Granny is right. If your monthly payment is high because it has to be to pay off all your secured debt, then changing your expenses may not make much difference. But you won't know unless you try. She's also right about the furniture. As hard as it is, taking care of your family is the priority. Learning what is a need vs. what is a want is one of the hardest lessons Ch 13 has to teach us. And every one of us 13ers has been there. It's a tough transition, but surviveable. After awhile, living on what you make becomes second nature and it gets easier. Hang in there - keep us posted, ok? We're here for you when you need us.

[Granny]

Paralegal said our payment would be $1100.00 a month now that's with the house payment included.

How much is your house payment each month?

[texas69lady]

We feel like giving up !!!! BUT I have to think of my three boys. We spent seven years renting in a mobil home 2BD. IT WAS CRAMPED. BUT this seems to scary and it sounds like we will save the house for a very little while. And Eventually realize that we need to give it up just to buy grocerys OR a video game my kid wants or just a visit to the doctor. And pay for medicines when they get sick!!!! At this rate we will be one of the 35% that doesn't make it. WHAT TO DO????????

[texas69lady]

House payment is 559.29 a month then second lien when we bought the house is 117.90 per month.
So total is 677.19 that does not seem like alot but we live at the bottom of texas where they only pay minium wage here or little more.