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My Chapter 13 journey has started....

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    My Chapter 13 journey has started....

    Hello all. I am glad I found this forum. Great information, even if some is a little old.

    I decided to file (Jointly) for Chapter 13 about 2 weeks ago. I have been making minimum payments on roughly 20 credit cards totaling about 75000 dollars, 2 car payments, and a mortgage. I was up to date on everything but knowing it would take 50 years to pay it all off was weighing down on me. I did a lot of online research first, then scheduled a consultation with a very reputable local firm last Monday (Feb 13). Based on my research, I went prepared with last statements on every CC, 6 months of bank statements and pay stubs, and last 2 years of tax returns. I made a spreadsheet with all this information as well, total expenditures including utilities, groceries, etc.

    The lawyer and I talked for an hour, deciding what BK was right for me (Chapter 13 100% plan), along with deciding to keep the mortgage and 2 car payments separate.

    My payments per month of making minimum on my CC's was $2100. Lawyer filed my papers on 15 February and estimated trustee payments are $1420 per month. Thats almost $700 dollars extra in our pockets monthly AND everything but our house will be paid off in 5 years. I don't know why I didn't go this route before.

    Our 341 hearing is 28 March by Zoom, and our Confirmation hearing is scheduled for 10 May. I start making payments to the Trustee on 17 March.

    A huge weight is lifted off me... but still going to worry until the process is over

    Welcome to BKForum! You're one of few that are in a 100% plan, but it's exciting to read about someone excited to be in a 100% plan which nets $700/month back into their pocket!
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.



      You made a great choice, we put off BK 13 due to the stigma, but I can honestly say it was just what we needed and I wish we did it sooner.

      While the time in active BK 13 isn't exactly a picnic, just hold on and try to save a little for emergencies, try not to panic and come here for advice or to share the ups and downs with other people who are in the same/similar situation.
      I am not an expert. I just share my experiences in the Wonderful Wacky World of Chapter 13! Filed 3-30-18 Confirmed 7-11-18 Discharged 6-8-22


        Had my PRE 341 meeting call with my lawyer (341 is in 2 weeks). It comprised of "Here are the 8 questions they will ask. Answer with a "yes" or "no" don't elaborate unless asked. Then they ran through the questions, I answered. All done.

        Those questions were: Is your name Ragnar DJ, is your address _______, is your DOB ______, have we filed BK before, do we own any additional property not already listed, do we own any vehicles not already listed, do we have any income not already listed, did we list all known creditors.


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