Hi,
Since the main reason we are filing is because of my husband's old home going into foreclosure, and we are in a debt repayment plan which will end in 3 years, would it be better for him to file by himself so my income can be backed out and he could do a 7???
The reason I ask is if we jointly would end up with a 13, our current payment plan would be up in 3 years vs 5 years with a 13. The only "joint" loans we are are our Jeep - which I would continue to pay, and the water purification system. Our credit card debt which we are paying back to Green Path Debt Management is individual. I would think they could pull his out of the agreement, and I would just keep paying like I have been on mine.
His monthly income is about $2,716 which is his partial retirement from Civil Service, VA disability and the GI-33 bill monthly stipend which will end when he graduates either May or Dec. 2012.
My income is about $3,500-3700 monthly. The one reason the attorney we will probably go with would rather us be in a 7 than 13, is when I graduate in 5/2013 my income could potentially increase to about 7,000-8000 month. He feels we will take a beating by doing it that way.
Thanks again to all the great advice and insight that you all give to me and others. I am learning so much!!!
Lynn
Since the main reason we are filing is because of my husband's old home going into foreclosure, and we are in a debt repayment plan which will end in 3 years, would it be better for him to file by himself so my income can be backed out and he could do a 7???
The reason I ask is if we jointly would end up with a 13, our current payment plan would be up in 3 years vs 5 years with a 13. The only "joint" loans we are are our Jeep - which I would continue to pay, and the water purification system. Our credit card debt which we are paying back to Green Path Debt Management is individual. I would think they could pull his out of the agreement, and I would just keep paying like I have been on mine.
His monthly income is about $2,716 which is his partial retirement from Civil Service, VA disability and the GI-33 bill monthly stipend which will end when he graduates either May or Dec. 2012.
My income is about $3,500-3700 monthly. The one reason the attorney we will probably go with would rather us be in a 7 than 13, is when I graduate in 5/2013 my income could potentially increase to about 7,000-8000 month. He feels we will take a beating by doing it that way.
Thanks again to all the great advice and insight that you all give to me and others. I am learning so much!!!
Lynn