in ch 13, tired of paying? they raised amount AGAIN!

[papa0881]

payment was 930 now 1065 not that i cannot afford it, just that i do not want to anymore, 8th month paying and tired of it, what are my alternatives? i have TONS of assets and have 52 more payments to go... HELP, what shall I do? business is INC so they cannot touch anything right?

[HHM]

Without way more background...who is too say.

Why did you file Chapter 13?
What assets are you trying to protect?
How much unsecured debt do you have?
What percentage are you paying off to unsecured creditors?
Were you behind on payments on any secured asset when you filed?

In any event, you can always dismiss your case, but that dismissal has far reaching implications that you would need to discuss with your attorney.

[papa0881]

filed because of a car accident, about 65k unsecured debt,
35k irs, state etc....

its just that they keep upping my payment, and just do not want to deal with this crap anymore

[Minnymouth]

Ok,
Have you had an income increase that would increase you payments?

Remember IRS payments or student loans are not dischargable....

If you stop your Chapter 13 now, the creditors will come at you even worse than they did before and you will no longer have the protection of the court. Plus, not only will you still owe the creditors the full amount, but they will again be applying penalties, fees, etc.

By quitting now, you will loose all that you have invested, your attorney fees, etc....

In your payment plan if you are only paying back a percentage to your creditors, count your blessings..... wouldn't you rather continue paying a percentage instead of the full amount?

If you are not protecting assets, then could you file a Chapter 7?
Remember it will cost you more attorney fees, filing fees, etc. and any assets that are not exempt would be liquidated.

Those debts are just not going to "go away"...... you can expect liens, garnishment of wages, and law suits and attorneys to hire for that....

Why are you wanting to stop the Chapter 13 plan???

Tell us more so we can help.....

[papa0881]

i am just tired of them keep raising the plan amount, also they want the money by the 1st, well i cannot pay until the 15th! is there an exact day you MUST pay for state of PA?

I want to go to ch 7 but do not want none of my assets taking. we own a large landscaping firm, used to own a chain of subway stores, well they went bankrupt and thats why i filed.... does anyone if i filed ch 7 would i loose all 15 of our trucks, equip etc etc..... our landscaping biz is INC BUT the subway was to, but all the debt was in my name. landscaping biz has awesome credit, we could go get a 100k loan tomorrow, it is just that personally my credit sucks.

the subways went to heck since i was in a bad car wreck in 2004.... back on taxs, liens and alot more!

my question is, what happens if for some reason i am late like 5 days on my payments, well i been late 15 days they never said anything..... atty said make sure payment is sent within the month, lots of you are saying really no deadline? is there a deadline in the state of pa for ch 13 payments?

i just do not want to pay this anymore, 1065$ does anyone pay over that amount a month?

[arkienurse]

i just do not want to pay this anymore, 1065$ does anyone pay over that amount a month?

<raises hand> I do. I pay 588.46 every 2 weeks. That means that I actually pay 2 extra payments every year.

[lrprn]

<raises hand> We do too - once a month. And our payment is likely to go up as well in order to settle objections from our trustee. It's part of the Ch 13 game, papa. If you want to keep all your assets, then you have to play by the Ch 13 rules. If your Means Test/Schedules show a specific amount of disposable income, that amount is going to the trustee.

I'm guessing your payment went up to resolve trustee or creditor objections to your original filing - true?

And no, there is no "PA date to pay" your Ch 13 payments. Most districts use the date of filing to set your payments. File on the 1st, pay on the 1st. File on the 10th, pay on the 10th.

What does your lawyer have to say about your idea to walk away from your just-confirmed Ch 13?

[nervousnellie]

We paid $1538 for 41 months. Plus a house payment of $448 for all those months. Plus utilities,car ins. medical bills etc..Our Attorney didn't advise us of all the expenses we could list.It was extremely hard to live those 41 months,but we made it and are completely debt free now.My wish for all of you is you can hang in there and make it to the end too.

[papa0881]

yes it was raised due to trustee objections i guess thats what it is?

called lawyer 3 times and he never called back yet...

[Minnymouth]

pap0881,
Well, your not the only one tired of paying out to the Trustee, but that's part of the program..... sorry about your luck.... but that is one of the "prices" you pay when you file bankrutpcy...

You said you had "lots of assets"........... well, if you want out of the program so bad..... sell off some of your assets and pay the creditors.....

You can't file a Chapter 7 "just because you want too" to eliminate personal unsecured creditors...... Any disposable income you have is going to go to the creditors, you are going to live on the bare basics until they are paid off.. the trustee will see to that.

Some folks pay as high at $2000 a month to the trustee, to get a fresh start and are tickled pink to be able to start out with a "new beginning - debt free"....

Your "lifestyle" is going to change while you are in bankruptcy, so you might as well get used to it...... your not going to live like you did before. Any extra income the trustee is going to take.....

You called bankruptcy a "bunch of crap".............WELL, you think what you want too - but without the "right to file bankruptcy granted by our forefathers" - your creditors would be suing you probably right now and you could spend ALL YOUR MONEY fighting them in court, then you couldn't pay your housepayments, utilities, etc.....

I consider being able to file bankruptcy - a "right" and a "gift" to help me get a fresh start on my future..

You won't hear me complain very loud, and I totally got screwed by my creditors in the bankrutpcy..........

Now I have a fresh start, and my life is back on course.....

If you want out of your chapter 13, stop making payments, they dismiss it, and then spend some of your "tons of assets" to pay your creditors off....... then you'll be debt free again.

Ya can't have your cake and eat it too..............

Everything has it's "price" in life......................

[newbie2]

Papa, we're paying $1800 a month. It's been raised 3 times. I'm still grateful for the chance to get our financial life in order and would no way consider quitting now.

You really need to reconsider, the ramifications of what you want to do are enormous.

[cubfan300]

Sounds like I have the current high payment on the forum. $2438/month. I, too, have suffered thru nurmerous payment increases, including after our original trustee retired, the new trustee then began to take 10% of my house payment, $235, as his fee as opposed to the $32 that the original trustee was taking.

[BKOnce]

C13, 36-mo, 180K-debt, $2600/mo.

[BlessedOne]

My payment has been raised 3 times over 36 months. We now pay $1850 per month along with an ARM that keeps adjusting to the tune of now 12.12%. Our mortgage payment is now $2620 along with utilities, food, gas, etc. Our atty has issued a petition to the court to get our payment lowered to $1550.

It is hard and we have tried to "quit" several times by trying to refinance our home to buyout the Chp 13. We do not have enough equity to do this. So, we continue from month to month hoping and praying we can survive. We have 24 months to go.

[papa0881]

so i could ask my lawyer to get a petiotion to lower the payment then?

how long does that process usually take?