Was anyone surprised by their Chapter 13 payment whether is was more or less than you expected? I should get a better idea on Friday as this is when I sign my petition to file. I have no clue whatsoever as to what I could end up paying.
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Our payment was a lot less than I thought it would be. I was told the amount before filing and it stayed the same. It has been decreased once and will decrease one more time in a few months for the remainder of our plan.
Overall we were very lucky. Our lawyer used the IRS standards to figure our budget and we actually spent less than that per-month. We have about 40 payments to go and so far it has been a huge relief. -
That's great to hear sarakay5. I just wanted to put a post out there to get other people's reactions. All of our debt is mostly credit cards and about 3 loans that total around $37,000. Our mortgage and auto loan will not be included since we are not behind. But i'm sitting on pins and needles wondering what we will owe back.Comment
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Arlington,
We were told that our payment would be $970. a month, but when we went to our confirmation it was raised to $1020 a month. Turned out that only 2 of our creditors filed and the rest chose not to.
This worked to our advantage because we were able to finish in 15 months.5/17/2006 Filed Chapter 13
6/14/2006 341 meeting
7/10/2006 Plan Confirmed
9/12/2007 DISCHARGED,10/15/2007 CLOSEDComment
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Our payment, too was alot less than I thought it was going to be...approximately more than 50%. I thought our payment was going to be $1200, it ended up being only $500 per month. Whew!sigpicPersevere: "To continue a course of action, in spite of difficulty, opposition or discouragement."
Chapter 13: Discharged 03/15/2010. Closed 05/19/2010::yahoo::yahoo::yahoo::yahoo::yahoo:Comment
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Hi Only4ever...do you mind my asking what your debt amount was? I totally understand if you choose not to.Comment
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GAMom...I'm from Georgia too...if that's what GAmom means! Anyway...I wanted to ask if you filed 100%.Originally posted by gamom02 View PostComment
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arlington,
yes I am in Ga.
yes we were $100% payback.
It was tough but we got through it.5/17/2006 Filed Chapter 13
6/14/2006 341 meeting
7/10/2006 Plan Confirmed
9/12/2007 DISCHARGED,10/15/2007 CLOSEDComment
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Mine was originally going to be $250 a month, as I opened my ears in the 341 meeting I noticed a few others were way more than mine and I didn't feel so bad. BUT when it was my turn with the Trustee, he boosted it to $800! Well, I ended up converting to Ch7 before THAT happened!
Best to all you 13'ers ! CatchmeifyoucanJuly 2006: Filed Ch13 :blink:
Oct 2006: Converted to Ch7 :clapping:
Jan 2007: DISCHARGED :clapping:
Nov 2007: CLOSED :yahoo::yahoo::yahoo:Comment
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We originally filed with $96,000 of debt. That included my car. Less than 1/2 of the creditors submitted a proof of claim and I elected to pay my car outside of plan. After all the dust settled, the debt amount in my plan was $45,000 which was all unsecured. I am paying back 64%, but thanks to my attorney, we ended up with a much lower payment. I could have easily been in a 100% pay back plan.
It has been said a hundred times before, it is well worth the extra money to have a good attorney. His representation has been priceless!sigpicPersevere: "To continue a course of action, in spite of difficulty, opposition or discouragement."
Chapter 13: Discharged 03/15/2010. Closed 05/19/2010::yahoo::yahoo::yahoo::yahoo::yahoo:Comment
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Lawyer was correct, to the penny.Comment
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My final payment went up by over $200 and now it's coming back to bit me. I can't afford anything, need to give up my home and try to find a rental. A life lesson learned.Comment
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just completed
mine was 980 for two years, then was doubled to 1888 a month for three years, total of 60 months. paid back secured and unsecured at 100%. waiting on discharge papers!!
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Congrats, thirdtimer! So glad to hear you were able to complete your Ch 13 plan successfully - fantastic!Originally posted by thirdtimer View Postmine was 980 for two years, then was doubled to 1888 a month for three years, total of 60 months. paid back secured and unsecured at 100%. waiting on discharge papers!!I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to goComment
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What did that $800 include? Was it all unsecureds?$800 sounds like a Godsend to me.
Originally posted by CATCHMEIFYOUCAN View PostFiled: October 1, 2007 341: December 10, 2007
CONFIRMED: December 10, 2007
Payment: $825 / Mo. for 5 Years-29 MONTHS OF Pmts Down 23 to go!
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