Discharged!

[PatG]

Filed 1/05/2015

Confirmed 12/14/2015

Completed 2/04/2020

Discharged 2/28/2020

Total Paid In $219,813

This is finally over. There is still $657 left over balance, hopefully that will be refunded to us at some point. Time to replace my wife's 11 year old car and crank up the 401k contributions.

[justbroke]

Congratulations! A Chapter 13 completion and I know exactly how that feels!

Amazing, and I hope you're feeling refreshed and ready to take on the world.

[shipo]

Congratulations! I'm right behind you, I filed at the end of February 2015; hoping on a discharge by the end of April.

[mel22nv]

PatGshipo Congrats to you both!!! I'll be done 8/2022 but feeling better about things. Payment is due to drop by $300 in August hoping to bank that amount and continue to build up my emergency funds. My goal is to have enough in savings to not have to ever rely on credit again! I know you both must feel great. I know 5 years is a long time and I'm so looking forward to the day I can put this behind me and move forward. Great way to start the new decade!!!

[shipo]

PatGshipo Congrats to you both!!! I'll be done 8/2022 but feeling better about things. Payment is due to drop by $300 in August hoping to bank that amount and continue to build up my emergency funds. My goal is to have enough in savings to not have to ever rely on credit again! I know you both must feel great. I know 5 years is a long time and I'm so looking forward to the day I can put this behind me and move forward. Great way to start the new decade!!!

When you say "My goal is to have enough in savings not to have to ever rely on credit again", are you suggesting your goal is to never use credit again, or just to never have to need it again?

[mel22nv]

shipo prior to filing I used credit for everything even things I could have paid cash for so what I'm saying is I'd like to have enough savings that if I needed a new fridge, tires for vehicle, etc. I could pay for them without using credit. I do realize credit is not a bad thing when used correctly. I'm almost half way through my Chap 13 so 2 years without credit just hoping I can continue this trend as it seems to be way less stressful!

[shipo]

shipo prior to filing I used credit for everything even things I could have paid cash for so what I'm saying is I'd like to have enough savings that if I needed a new fridge, tires for vehicle, etc. I could pay for them without using credit. I do realize credit is not a bad thing when used correctly. I'm almost half way through my Chap 13 so 2 years without credit just hoping I can continue this trend as it seems to be way less stressful!

Interesting; I am in the limbo stage between my final payment and discharge, and it is my intention to use credit as often as possible as soon as possible. Why? If for no other reason than to be able qualify for a mortgage at some point in the future. At this point, I have no *need* for credit; the events which led up to my Chapter 13, were two small business failures, and given I accepted a full-time job a few years ago, my financial risks have dramatically changed.

[mel22nv]

shipo I can understand why you would if you're trying to qualify for a mortgage. My situation changed as well as I was no longer able to work due to my disabilities and SSDI took 2 years to get but after my discharge in 2022 I hope to sell my home and downsize. Its just me, no kids, not even a pet now (my dog died 2 years ago). I'm retired disabled vet so my income is fine I just needed to get back on track. I'm ready to relax and hopefully do some traveling but I do think I'll look for a smaller place (condo) something that don't require yard work. Also I'll be 57 by 8/22 when I discharge so I think I'll look for a 55+ community. Not sure if I want to stay in FL I love the weather but tired of stressing about hurricanes every year. The last few years was a bit too close for comfort but I'll be here until 2023 at least. I'm hoping I can sell and make a decent profit. Until 2022 I just dream of all the possibilities of things to come! Good luck on the house hunting!

[shipo]

mel22nv, got it. If my Chapter 13 discharges by mid-May it will make a great 63rd birthday present for me. Like you, our kids are pretty much off on their own now so my wife and I figure we need roughly ten more years to save enough in our 401Ks to last for the rest of our lives. Given we are both in good health and shape, and given we both have ancestors who've lived to well over 100, we figure we need build a fairly healthy stash to allow us to live comfortably without becoming a burden to our kids.

Regarding downsizing, when my former business partner's niche business failed, I discovered he'd run up something like $150,000 in debt in my name, right about the same time as my wife's business failed as well. By 2013 our financial burdens caused us to separate and headed off to two separate small apartments following the disposal of our house; in May of 2014 she informed me she was visiting her lawyer and would be filing by the end of that month. I was visiting our son then stationed at NAS Pensacola on the day she was meeting with her lawyer, and that afternoon she called, in tears, and said she couldn't go through with it; we agreed keep talking in the hopes of working things out. That was almost six years ago, and now with my soon to be financial independence, we are talking about living under the same roof again. Hopefully we can buy a nice condo or town-home in the next year or two and make it a nice little nest.

[mel22nv]

shipo that will be a great birthday gift discharge! Happy you & your wife worked it out! Its been a long hard 5 years I'm sure. Cheers to your soon to be financial freedom! Keep me posted on things; hearing others success keeps me going and focused that this too shall pass!!!I'm always humbled thinking of how far we've all come during our BK and all the possibilities yet to come!!!

[sophieanne]

PatG - Congratulations; you did it!!!! Now you can breathe a big sight of relief and get back to better financial life. Time for a little celebration

[Witchywitch]

Congratulations!

[anunezal]

PatG Congratulations. I am sure this is a great feeling! I am just starting, made first payment, 59 to go! BTW, did you get any break? did any of your creditors didn't file proof of claim?

[shipo]

anunezal, while I obviously cannot speak for PatG, I can comment on my own Chapter 13; all of my creditors filed claims, and one even tried challenge my filing claiming I was hiding money. The Trustee ignored them.

[Macc404]

PatG Congrats to you! I hope to share my own dates in 59 more months