How much are your payments?

[gymbo]

Just curious what to expect as far as payments with a Ch 13. Have not field or seen a lawyer yet... but our cc debt is $45k+. We have little equity in our home and 2 older cars. At the end of the month, our bills (not including expenses like food, clothing and gas) are $500 more than we make.

CC bills (min payment) are $1100/month. That is what is killing us.

What are the range of payments? I'm just curious cuz if they decided we should pay $1100 a month then it would not really be to our advantage.

Out income is over the median... and our house payment is $2000.

[CATCHMEIFYOUCAN]

It all depends on you disposable income. The Median Test, Schedules I and J. Somewhere on this forum is a site they link you too and you can do the test yourself! Good Luck, just be weary even if the Median Test shows (you past) as people say, schedules I and J may prove you have the disposable income to fund a Ch13!

Catchmeifyoucan

[MajorMike]

It doesnt matter what anyone's payment is. Even if all your debt matched someone else's, it will depend, like CatchMe said, on your disposable income.

[MajorMike]

Why wouldn't it be to your advantage?? All your interest would stop and that's definitely an advantage ( for your unsecured debt ) If you tried to pay that down on your own, it would take WAY more then 5 years!!

Just curious what to expect as far as payments with a Ch 13. Have not field or seen a lawyer yet... but our cc debt is $45k+. We have little equity in our home and 2 older cars. At the end of the month, our bills (not including expenses like food, clothing and gas) are $500 more than we make.

CC bills (min payment) are $1100/month. That is what is killing us.

What are the range of payments? I'm just curious cuz if they decided we should pay $1100 a month then it would not really be to our advantage.

Out income is over the median... and our house payment is $2000.

[gymbo]

Good Point MajorMike. Thanks.

[Mark80]

Somewhere on this forum is a site they link you too and you can do the test yourself!

I have been searching for this for awhile, also tried to find one on google. Any idea where this mythical tests hangs out?

[laurannm]

The means test calculator is located at http://legalconsumer.com/