First post, have some questions

[Nicki8875]

I think there are more important things to worry about than a stupid car, honestly. I seriously doubt that they would "put it out front" and sell it. You want a fresh start, or a re-organization plan, correct? You want to possibly rid yourself of the 25,000 of credit card debt right?? Well then, the bronco is like the least of your worries.

I am not the least ashamed, and neither should your DH.

I am not ashamed either. The people I care about would not judge me for it. But, unfortunately this place does stick their repoed stuff right in front of their building with for sale signs so it is pretty obvious and it is on a main road in our town. Im going to make an appt with an atty this week to just get some more questions answered. Like if we would be better off getting new cars before we file, the exemptions, how much our monthly payment would be, etc.

One more thing...why online does it say you can do a 3 or 5 yr plan but everything I have read is 5 years? What makes you qualify for a 3 year plan?

[optimistic1]

That is good you are making an appt with a attorney. Dont be afraid to shop around for more than one either.

I understand that people have a sense of pride with things, it is only human.

Plan lengths will vary, the driving factor is whether your income, based on the means test, which takes into account the previous six months of all income.

If your numbers show that you are below the state median income, then your plan can be as little as 3 years long, or it might fall somewhere in between 3 to 5 years, it just depends on your financial situation, and how much you can afford each month.

If your numbers show that you are above the state median income, then your plan must be the maximum of 5 years long, no less.

[lrprn]

One more thing...why online does it say you can do a 3 or 5 yr plan but everything I have read is 5 years? What makes you qualify for a 3 year plan?

The law mandates 36 or 60 month Ch 13 plans, and the only filers who get 3 year Ch 13 plans are those who are under the median income for their state, but still have enough disposable income to file Ch 13. Very few filers meet this criteria. That's why almost all Ch 13 plans are set to last for 5 years.

To help clear up confusion about what a Ch 13 bankruptcy really is, check out these links - http://www.uscourts.gov/bankruptcyco...chapter13.html and http://moranlaw.net/13workings.htm#C...013%20practice They do a good job explaning Ch 13 as simply as possible.