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

[papa0881]

my lawyer must be a complete idiot! i asked him about lower the payment, he said uh uh uh never heard of that let me call the trustees office and find out! this guy is a complete moron! i can see why out of 50 cases he only had one at the trustee meeting. can you change lawyers while being in bk13? this guy is dumb as a door nail!

[TiredandWeary]

Our monthly payment to the trustee is $2500. Our mortgage payment is included in that figure ($2060 per month). However, our ARM is scheduled to increase our mortgage payment by more than $600 beginning in October, so I am anticipating receiving an official letter stating that our monthly payments will increase to over $3100...impossible for a family of 5 to live on with only $83k per year in income!

[MOMof3]

We pay now $3040/month since our $300/mo mortgage payment increase! Trust me, we are looking at ways to get out, it's tough to think we still have 43 months left on ours. The good news is that our mortagage is getting paid every month now so in a sense a part of our payment really is money in the bank as our home equity increases. Our attorney says we need to make sure we have enough money to cover arrears in the house before we even start looking into conversion. We might sell though...still looking into that. Hang in there! I feel your pain.

[papa0881]

i deff am cheaper then some of you! my one friend here in town, he pays $5 k a month to ch 13 just found that out!

[rrockinggramma]

in a chapter 13, the debtor must make the plan pay out to the creditors as much as they would have received had that debtor filed a chapter 7. With all of your assets and equity in those assets, your increases might just be keeping your plan "confirmable" It has to meet all the criteria set up by the laws and local rules. the hardest part is living within the budget and changing your lifestyle. I look around every month and think of all the things I would like to do with that trustee payment rather than send it to the trustee but I also thank goodness every day that my phone is silent and that soon I will be debt free. Nothing in life is easy and having to work hard for it makes you appreciate it more. You can walk away any time from your chapter 13 and have everyone coming after you again, like it was before you filed. And as you have mentioned you can try to have your payment adjusted however unless you have a very valid reason for that adjustment, it won't happen. (in my district, death is about the only thing that will get a payment plan adjusted)

[BlessedOne]

in a chapter 13, the debtor must make the plan pay out to the creditors as much as they would have received had that debtor filed a chapter 7. With all of your assets and equity in those assets, your increases might just be keeping your plan "confirmable" It has to meet all the criteria set up by the laws and local rules. the hardest part is living within the budget and changing your lifestyle. I look around every month and think of all the things I would like to do with that trustee payment rather than send it to the trustee but I also thank goodness every day that my phone is silent and that soon I will be debt free. Nothing in life is easy and having to work hard for it makes you appreciate it more. You can walk away any time from your chapter 13 and have everyone coming after you again, like it was before you filed. And as you have mentioned you can try to have your payment adjusted however unless you have a very valid reason for that adjustment, it won't happen. (in my district, death is about the only thing that will get a payment plan adjusted)

This is very true. I neglected to mention the reason our payment may get lowered is because we are turning in one of our vehicles. The engine died and we can't afford to fix it, so we are giving it back to Ford Motor.

[lrprn]

my lawyer must be a complete idiot! i asked him about lower the payment, he said uh uh uh never heard of that let me call the trustees office and find out! this guy is a complete moron! i can see why out of 50 cases he only had one at the trustee meeting. can you change lawyers while being in bk13? this guy is dumb as a door nail!

Yes, you can change lawyers in a Ch 13, although most bk lawyers will not talk to you until you get rid of the lawyer you have now. You could be jumping right out of the frying pan into the fire though, and get to pay a new lawyer for the privilege besides. Did you go with the lowest-fee bk lawyer? If you did, then you get what you pay for. Sounds like your guy is very inexperienced in Ch 13.

The only reasons Ch 13 trustees will accept for a reduced payment are long-lasting decreases in income or long-lasting increases in expenses. "I don't want to pay so much" isn't gonna fly....sorry.

You're confirmed and the objections to your case have been resolved - that's a gift! Don't just throw it away! Since keeping your assets was so important, then buckle down and pay the money. It's not forever - it just feels that way right now. In Ch 13, you learn to look long-term, not just short-term.

[thirdtimer]

We had our payments increased from 985.00 to 1888. No fault of ours it was my laid back lawyer who according to my trustee under funded the plan when she was doing our paperwork. so for 2 years we paid 985 and then 1888 monthly. all my creditors inluding secured and unsecured were paid at 100%. We just completed and awaiting our discharge papers. Let me tell you it was no easy road, lots of obstacles. But thru the grace of God we made it. This is something I pray I do not have to live thru again. JUST HANG IN THERE IT WILL BE WORTH IT IN THE END.

[inajam37]

just wondering...

The more I read...the more worried I get. We're current on our mortgage and car payments. Have about $90k in unsecured debt. Is it possible that our payments could be that high...just can't see how we can afford it. Are most people behind on mortgages and car payments? Would be interested to know. Thanks.

[lrprn]

The more I read...the more worried I get. We're current on our mortgage and car payments. Have about $90k in unsecured debt. Is it possible that our payments could be that high...just can't see how we can afford it. Are most people behind on mortgages and car payments? Would be interested to know. Thanks.

IAJ, It's a waste of time to look at what other people owe, what their assets are, and their monthly payment, then try to compare it to yourself.

Calculating the monthly Ch 13 payment is very complex. There is NO direct relationship between what you make, what you owe, and what your payment is going to be. Every case settles out differently.

You have to ask the lawyers you are interviewing or your own lawyer what to expect in your case.

[jetsfan2007]

ch 13 here 60 month 1250 month ...

[jgarton244]

What are you looking for? If you have tons of assets, then sell some and pay off the debt. If this is not possible, then you can continue the plan and clean the unsecured debt up. Or you can have the plan dismissed and fight the debts owed in court. Our BK 13 was due to $80k in medical debt. We owed the debt, filed BK 13 and paid it off. Since you say you can afford your current payments why are you complaining about paying them back? We were grateful for the ability to stop the high interest on our medical bills and have the opportunity to pay what we could afford over the 5 years. We paid 100%, and I feel good about paying what we were able to our creditors.

You owe the debt! If the plan payments are within your means to make, why the complaining on being "tired of this crap". Our payments also increased. Started at $1510 month, and went to $2450 month. We were able to pay this monthly amount. It was not easy, but it was debt that we owed, and given the chance to repay without huge interest added to debt, we were able to meet our obligations. Would I have liked to just forget the debt? You bey I would. But, ethically, we had a responsibility to pay what we could afford. I have no sympathy for someone that says they have tons of assets that can not be touched, and complains about making payments on debt owed, in a manner which is within their means.

[kmb]

I've read through all the posts and I'm wondering why people's payments are getting raised? Ours got raised between the time we filed and the time we were confirmed when we were hashing through the budget and forms, but do we have to continue to worry about this for the remaining 53 months we have in the program? I understand that if your income changes that will constitute an increase, but what else causes them to increase your payment?

TIA

[larryg]

This is so confusing. If I make my credit card payments they will total 1200 a month and be paid off in 10 years. (that's at the current interest rate & all payments on time) The attorney I talked with said my payment would range between 200 and 300 per month for 5 yrs if I file 13. I look at the payments people on here are making and I'm shocked. Is this based on your debt or your ability to pay the debt.
I forgot to tell the first attny about the start up money owed to me by my LLC. Even thought the LLC doesn't have the ability to pay me back right now I'm guessing the trustee will consider that an asset and add it to what I can pay to my creditors. Does this sound right?
If my payment was to go over 500 I would be forced to file 7 and lose the business and the house. This is so scarry. If I had enough assest to cover the debt I would sell and pay them off.

[southerncomfort]

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?

I pay more than triple that amount!! See, it's not that bad!