10 months left of Ch 13 and.......

[Aspensage7]

We had to take out money from my husband's retirement (he's 60) to cover getting new tires for our vehicle, paying our 2022 IRS taxes and also paying a back amount for book royalties from a book I wrote. We also had to pay for new bearings on the same vehicle that we bought tires for. This is not cheap. My company was bought by another company, and those transitioning to the new company (me included) are getting a bonus and cash out of our PTO. Since it's over a certain amount, the atty is required to notify the creditors. We are not abusing the system, have made our payments on time (minus when we were evacuated from a fire, which I told the atty I was going to pay that amt owed with my bonus) etc. Atty mentioned about filing a NOI - which means Notice of Intent in Oregon. What does this mean? What if a creditor comes back and objects to the W/D and the bonus? (Which, I was going to use for my career and education as well as getting our heater fixed).

Now I'm worried. I feel like we are so close but the finish line just got longer.

Any insights are welcomed.

[Carmella]

I don't know the answers, but definitely understand the frustration/anxiety.

If you are paying back less than 100% the trustee might claim the money towards your debts.

Did you already pay the IRS? They were quite friendly with us when we had back taxes from the first few years of our BK, these were taxes post petition. We paid most of it back after discharge. They don't try to collect while BK is active and it takes a little time for them to process when BK is discharged. They wouldn't even set up a payment plan until the BK discharge was updated on their system. We were able to pay the full amount within 6 months instead of doing a payment plan it was cheaper that way since the payment plan had some rather large fees and the pay within 6 months had minimal interest due.

Hang in there the best you can you are coming down the home stretch with 10 months left. I totally understand how stressful it is and frustrating you can't do what you want to do or enjoy extra $, not even enjoy, but use for something that is meaningful and needed.

In the end it's worth it. Chapter 13 was the best for us because it got rid of the debt and we were able to start a debt free life except for the major expenses like cars/house.