Life is good, only 18 months to go!

[newlife13]

I'm 70% done with my Chapter 13 plan. I've run a super-tight budget and have saved a good amount of money. I've been fortunate to get promoted twice over the past 42 months. I considered reporting the raises (there have been 2 since I filed -- one in 2018 and one in 2020), but when I filed, my attorney told me (with a wink & nod) that he's only had *one* client every report a pay increase to him in the 20 years he's been doing Chapter 13s. And I do not have to send in any of my tax returns. My expenses have gone up as well -- rent alone is $350 more per month than it was when I filed. Food is insanely expensive. My daughter is starting college this year. So, I've kept my head down, made my monthly payments on time and am looking at being able to pay my daughter's college tuition & fees for the next two years. It's the first time in maybe 5 years that I'm not worried about money.

Feeling pretty good about life. Chapter 13 is the best thing that ever happened to me. I was sick & not sleeping over my finances. And, now, I can breathe, save and take care of my family.

[shipo]

Congratulations newlife13, I remember crossing the 42 month threshold, also with a daughter in college, and thinking I was beginning to see the light at the end of the tunnel. The only caution I might make is, that itch to be done, gets stronger and stronger as the final months tick by; keep to your budget, keep your head down, and finally you'll be FREE!

[sophieanne]

newlife13 Way to go! It’s always inspirational to hear when someone is
doing well during their plan. The most important takeaway is seeing the importance of strict budgeting ..it really helps through the journey. Your final 30 percent will be done before you know it!!

[newlife13]

Thanks, sophieanne. It's been a process and I'm finally relaxing enough to think it's OK to have a $25 lobster roll for dinner as a treat. I was so militant with my budget. I am still militant and look at it every day and make adjustments, but I allow myself some room to do some things. I used to have two part-time jobs that I lost due to COVID, so it's been a challenge to manage with just the 1 job, so the raise really helped.

[shipo]

newlife13, since my discharge in March I've been pretending I was still inside my Chapter 13; the only real difference is I'm paying my savings account every month versus the Trustee. We hope to have enough saved for a 20% down payment on a townhouse by early 2022. Assuming we're successful, that will mean a period of 9 years on a tight budget, 2 before filing, 5 during, and 2 after.

[newlife13]

Yeah, home ownership is probably not in the cards for me for a very long time. I've got two to put through college and I'm a single parent. So... yeah.

[shipo]

Understood! Our son went into the Navy and came out with a nice fat GI-Bill allowance, our daughter is entering her senior year of college and we've told her we'd get her through her Bachelors degree; post-graduate stuff is on her.