Payment #6

[Scottowl]

My 6th payment is in the books.
So far no hiccups except about 3k owes to the IRS, which I’m on track to have saved by the due date.

I scheduled a meeting with my attorney, which made me feel better about things.

I am zeroing in on 62, and I have bone spurs in my feet I would like to get taken care of while I still have insurance through my employer. I learned we could file for a temporary reduction of payment to cover the recuperation time.

Alsi, my house is a money pit that I have not been feeding. It is also close to my work and much cheaper than modern day rent in my area. I have been kicking around letting them foreclose when I pull the plug at work, but was concerned about a defeincy lein.

If I went that route he says the mortgage would be discharged in bankruptcy. It’s nice to know that, even if I choose to stay.

All in all, I can now get a picture of who gets paid what in my plan. As it works out my plan will pay all claims if it runs it’s course, with a surplus of less than 300$!

[sophieanne]

Scottowl - sounds like you're doing well with the plan and off to the financial freedom race I hope things fall into the place the way you would like to see them. I hope you'll be around and tell us how things are going.

[Scottowl]

So far it has been a positive experience.
It made me re assess my whole way of doing things, especially the gambling.
I have not done even so much as buy a 1 dollar scratch ticket.

I got a good lawyer, and two very good addiction counselors to help.
I should also seek out a financial advisor I suppose.

This forum is a wealth of knowledge and inspiration. Hopefully there will be no more people in a situation as desperate as I was a few months ago.
Considering that is unrealistic, I hope some of those who are will stumble across this forum and realize there is hope, no matter how late in the game you happen to be.

[shipo]

Scottowl, agreed; I wish I had found this place well before my filing instead of after my last payment.

Question, when you say you're zeroing in on 62, does that mean now, or by the time you finish your Chapter 13? I'll be 63 right about the time my discharge comes through; I cannot imaging finally coming out of a Chapter 13 in my late 60s; doesn't give much time to finish saving for retirement. How will you manage?

[Scottowl]

Well shipo, it won’t be pretty.
I will be 3 months from my full retirement age at my last payment.

I am saving in my 401k at a decent clip, even though there is virtually nothing in it now.

As bad as it will be, it is far better than if I would have continued down the path I was on.

There was no need for any retirement income at the end of that road.

[shipo]

Well shipo, it won’t be pretty.
I will be 3 months from my full retirement age at my last payment.

Ouch!

I am saving in my 401k at a decent clip, even though there is virtually nothing in it now.

As the natives up here in New England say, "Wicked smaaat!"

As bad as it will be, it is far better than if I would have continued down the path I was on.

There was no need for any retirement income at the end of that road.

Congratulations in getting on track for a nice retirement.

[sophieanne]

Scottowl - Sounds great...as the trite expression goes, better late than never. Keep up the good work with your gambling counseling...