Am I the only one that finds being in a chapter 13 pretty stress free?

[James H]

Less than a year ago I could not fall asleep at night because I was worrying about money. And I'd get sick to my stomach wondering how I was going to pay my bills.

Heck, it was only 6 or so months ago when I was sick about all this court stuff. But now that I have a payment that I can actually afford each month it seems like all the stress has been lifted off of me. Sure my budget is a little tight but Just knowing that I make enough to actually pay my bills and not get deeper in debt each month is a great feeling

I still have 4 years to go but I'm not even worried about it because I know I can make this work. And I'm in a lot better situation than I was just a short time ago.

Just figured I'd give my thoughts on chapter 13 since there seems to be so many people going through it right now. Figured This may give you some hope because it does get better......... a lot better.

[calderon]

I was like you, not sleeping, stomach in knots. Robbing Peter to Pay Paul and then paying Peter back. We live pay check to pay check and I have a son who's 14 months old. I want to be able to be the best mom I can without all the worry weight on my shoulders. I actually had been thinking about MK for over a year. I found out how expensive it is having a child. We already lived paycheck to paycheck and then you add a child (thankfully) who adds over $1000 to your living expenses. Talk about no rest! I have my 341 meeting on Feb 26th and even though most of the posts say not to worry, I can't help it. How was your meeting? I know there's a light at the end of the tunnel and I'm excited about it...but this dang 341 meeting. urgh

[bmcmull]

Everybody situation is different, I needed to file a 13 to keep my house and vehicle, but we did not make enough money to cover everything. The atty put in the plan that we made $1700.00 more than we really did. It was a huge strugle the 1st year, our income did adjust but that first year sucked. My only other options at the time of filing was to go ch7 and loose everything. I had 6 month old twins so that was not an option.
I think everybody here can attest that its not the 13 that gets to you its the unknowns.

tax stuff, refinances, discharges, all the what iffs that come up when you've got an extra 400.00 to live on a month. How about all of you who filed in 2004, before all the gas problems and higher electric bills.

[James H]

I can't even begin to tell you how easy the 341 meeting was. But no matter how many people you hear say that, you will still be nervous.


Think I said yes or no about 4 times and then left.

[bmcmull]

5

I was like you, not sleeping, stomach in knots. Robbing Peter to Pay Paul and then paying Peter back. We live pay check to pay check and I have a son who's 14 months old. I want to be able to be the best mom I can without all the worry weight on my shoulders. I actually had been thinking about MK for over a year. I found out how expensive it is having a child. We already lived paycheck to paycheck and then you add a child (thankfully) who adds over $1000 to your living expenses. Talk about no rest! I have my 341 meeting on Feb 26th and even though most of the posts say not to worry, I can't help it. How was your meeting? I know there's a light at the end of the tunnel and I'm excited about it...but this dang 341 meeting. urgh

Htat 341 meeteing is a cake walk, you'll look back and think what was I worried about. Too many people filing the crediters can not keep up. 95% will no show, no make that 98%. I took down $200k in my 13 over 1/2 unsecured on CC no shows......AMEX 15k no show, Providian 12k no show, texins CU 22k no show. The Texins CU was a debt consolidation loan I had for only 3 months.

[shortee]

I sure wish ours was stress free. We are working with a trustee thats sure is out to get us. We are in the waiting game to be confirmed since November.

[calderon]

Ok, thanks alot for your responses. I do feel better about the 341 and I need to stop watching my calendar!! I feel like I'm on information overload and my mind is racing. I know that there was no way out of not filing BK. Don't get me started on gas and the electric company. The electric company used to roll their bills at least 1 month for their customers. If you had to, you could double up if need be or have an opportunity to make 2 or 3 small payments to the bill to pay it off. Now, if you're late 1 day, a pink slip generates and you get a term notice in the mail the following week. No stress there, right? I'm just so amazed. My husband and I make good money combined and then we're living paycheck to paycheck. Plus I want to start at 529 for my son's college. I want to do all things right for his future and I feel that BK will put our family in a better siduation.

[calderon]

Sorry to hear that Shortee. I hope it all turns out ok!!

[$$only4ever]

Chapter 13 isn't fun and sometimes it is hard, but it is better than the phone ringing off the hook and when you complete the plan, you walk away with a fresh start. That is what I keep telling myself to get through the 60 months.

[catalina2225]

I can't believe how smooth my chapter 13 has gone. I got confirmed a couple weeks ago and my monthly payments are so unbelievably low. I sure wish I had done this a couple years ago instead of worrying myself sick and being afraid to answer the phone or the door bell.

[helpless]

We are 32 months into 37 month plan. It has been easier, but when roof leaks, car breaks down, washer goes on the brink, it does add some stress as there is no extra money to fix right now. We filed in 2005 before gas prices went through the roof, so it has been tight some months, but we figure not to "rock" the boat and suck it up.

[aa06a47]

My plan has worked out well so far. It is tough at time, but better than pre-filing. I more importantly find I can live within a budget. This will bode well for me after I get through this and start the credit rebuilding process.

[wayne-o]

I finished my 13 in November. It was tight at time, but never as bad as having people hounding me for money owed. As others have said, you learn to live in a budget, if you continue this after you are through life will be easier. I was fortunate that I did not have anything "major" but things do pop up like tires, increase in gas, you learn to sock a little away here and there to cover these things. Good luck!!!

[Flamingo]

I just have two cents to add to being in Chapter 13 with some thoughts, ideas and suggestions....When you first file Chapter 13, it feels like it is all over and things start to settle down. Then you realize you have five years of payments yet until you can really start over. What one needs to do as soon as the Chapter 13 is confirmed is to start adjusting one's life to get through the next five years and be able to save towards things that will occur during that time period in which one must survive on cash only. Many cannot conform to that and their plans fail. There are all the fluctuations now of increases in food, gas, electric rates, insurance premiums and when they hit during those plan years, they can hit hard if you are not prepared for them. You will have debts hit after the plan is confirmed that are your responsibility; i.e., if you owe state or federal taxes in the coming years, house repairs, car repairs, new tires, etc. Unless one plans, it can be a disaster when they appear. Each Plan is different because what one goes through, the other doesn't and if you have a family, it doesn't take much to rock the boat. Think of your child coming to you asking for $75 for that school trip to NYC to see a show with the entire class and you sweat bullets trying to ensure that child can go and not be the only child left behind while everyone else goes. Having that child stay home while the rest of the class goes is extremely hard all around. We kept a large container in which we would toss our change in at the end of each day (adds up) and used those saved funds for unexpected items and just would not touch it or sneak change out. We became masters of budgeting and actually made a family game out of it. We bartered with family and friends as to getting repairs done (house/car) by them and doing something in return for them that we could afford (babysitting, lawnwork, etc.) Chapter 13 is a spring board to getting it together but one can do a belly flop off that spring board if one does not plan during the Plan years. The initial relief after filing can evaporate quickly when your transmission goes and the next day your hot water heater dies. The hard work will pay off after discharge but continuing the budgeting and other things one learned during the Plan years is a must to avoid getting back into the credit trap. Many state they do not want to see another credit card again after going through a BK and many of us can understand why.

[MajorMike]

Flamingo, you need to be a mod on this board. You always have excellent advice, taking the time out to help everyone! Thank you very much for the advice and support. I for one, appreciate it!
We're very lucky as to have family to lean on if we need extra money and the fact that we work on commission, and wife does surveys and focus groups online for extra cash helps a TON!
She actually brings in a few hundred a month doing surveys online for different companies and they pay the paypal account sometimes.
She also does mystery shopping and keeps it under $600 for the year to avoid a tax form. There are ways to make extra...including babysitting etc. She put an ad in the paper that she could babysit on the weekends or in the evening for a few hours, and built that up making some extra $$. There ARE ways to survive and I know we're going to be find doing it once we get AMEX off our backs! I think that is one thing we are very nervous about.