Just found this forum and have a million questions

[RustyPeanut]

Good for you! Congrats, Rusty Peanut

[MajorMike]

We paid 1600 TOTAL...so it depends on where you live.

QUOTE=optimistic1;263585]It really is a stygma, and a bunch of myths, dont feel bad to exercise your rights, big time banks and companies are doing it all the time, why not get your own bail out?

$2500 total for a Ch.13 case, is really cheap, I would clarify exactly how much you are paying, sounds like she is rolling the $2500 remainder into your plan, and the real total is $3500-4000. When she says she wants 1250 to "look at it" for you, try to get some clarification about what she means by that, that sounds kinda funny if you ask me. Dont just pick the first attorney you call, act like you are hiring a employee and interview several. The first one I hired, would never return my phone calls, I fired him, and hired another one. He calls me back or emails me the same day within hours.

You are paying off the 9K note on the car? You do realize, that if you do that, and your state exemption for a vehicle is say 5K and its worth 7K, you would need to pay into the plan the non-exempt amount to the creditors. I would just cram down the auto loan and pay it into your plan. I dont see why they would want to close your checking/savings for doing such a good deed.

The complexities of a 13 cannot give your answer here you may need to pay more or less into it, unless you really have looked at everything in your particular case and you can provide more details. The entire $550 is what the claims will receive, whatever that amounts to in 5 years is what they get, nothing more. There are certain districts where there are stipulations to percentages of payback and such, your attorney should know these things.

If you are putting off filing, you can make your CC go late more than 60-90 days or so, they will then be much more willing to lower your interest rate. I had BofA and Juniper both tell me about "programs" with interest rates at like 5%. So, they just dont want you to file BK, cause they wont get a dime. Although, in your case, they would get something, but not all of it.

My suggestion, is, you obviously need relief, so dont feel bad about filing a BK. I am doing a second BK. I filed for a CH.7 in 2004, and two years after that, I was able to obtain new credit cards, new house, brand new car with 0 down. So the myth that you would be scarred for life is just that, a myth. Like the president says, we are in the worst financial crisis since the great depression, do you think you are the only one filing for a BK? Hundreds of thousands are, and banks will understand 5 years from now if you did file, you will be a lower risk anyway at that point.[/QUOTE]

[MajorMike]

so I guess you didnt learn from the first one??? My friend had a 7 and said she got offers up the ying yang....but never went back to credit cards. It's a curse. Why would someone do that??

It really is a stygma, and a bunch of myths, dont feel bad to exercise your rights, big time banks and companies are doing it all the time, why not get your own bail out?

$2500 total for a Ch.13 case, is really cheap, I would clarify exactly how much you are paying, sounds like she is rolling the $2500 remainder into your plan, and the real total is $3500-4000. When she says she wants 1250 to "look at it" for you, try to get some clarification about what she means by that, that sounds kinda funny if you ask me. Dont just pick the first attorney you call, act like you are hiring a employee and interview several. The first one I hired, would never return my phone calls, I fired him, and hired another one. He calls me back or emails me the same day within hours.

You are paying off the 9K note on the car? You do realize, that if you do that, and your state exemption for a vehicle is say 5K and its worth 7K, you would need to pay into the plan the non-exempt amount to the creditors. I would just cram down the auto loan and pay it into your plan. I dont see why they would want to close your checking/savings for doing such a good deed.

The complexities of a 13 cannot give your answer here you may need to pay more or less into it, unless you really have looked at everything in your particular case and you can provide more details. The entire $550 is what the claims will receive, whatever that amounts to in 5 years is what they get, nothing more. There are certain districts where there are stipulations to percentages of payback and such, your attorney should know these things.

If you are putting off filing, you can make your CC go late more than 60-90 days or so, they will then be much more willing to lower your interest rate. I had BofA and Juniper both tell me about "programs" with interest rates at like 5%. So, they just dont want you to file BK, cause they wont get a dime. Although, in your case, they would get something, but not all of it.

My suggestion, is, you obviously need relief, so dont feel bad about filing a BK. I am doing a second BK. I filed for a CH.7 in 2004, and two years after that, I was able to obtain new credit cards, new house, brand new car with 0 down. So the myth that you would be scarred for life is just that, a myth. Like the president says, we are in the worst financial crisis since the great depression, do you think you are the only one filing for a BK? Hundreds of thousands are, and banks will understand 5 years from now if you did file, you will be a lower risk anyway at that point.

[optimistic1]

Actually you are wrong, and stop making accusations based on the 0% of facts you know about why I am filing again, its disrespectful.

So, not like I should have to justify the reason to you, but I cant help it,

The fact of the matter is, I was being responsible with the bills, and when I married my wife, she already had debt, which is the majority of the Ch.13 debts anyway. Further, my wife became pregnant in Novemeber, and I already tried finding a second job to pay the bills, but had no luck, thanks to the economy. So with the additional costs coming soon, like daycare, diapers, etc.etc.etc.etc., I know there is no way we can continue to pay the CC bills. The first thing to cut is the unsecured debt, not the house or car, or food and gas, the CC's. I had a few credit cards with small balances on them, and a car that was seriously upside down, so I chose to file joint, because it was the most beneficial thing to do for our budget.

So, THATS WHY SOMEONE WOULD DO THAT, and believe me, I aint the only one on this forum that has filed twice.

Thanks for the ridicule btw.


Also,

The costs are also based on how busy the BK season is for attorneys, I see you filed in 2007, which compared to today, the filing rates have soared, so the attorneys raise the rates, just like how mortgage lenders and banks raise interest rates when applications flood for home loans. So, it is isn't completely based on location, just a FYI.

And let us know if you have something to add to the original poster's question, other than what you posted above.

[MajorMike]

I filed a little more then a year ago and his rates have NOT changed. I saw an ad of his in the newspaper. If your wife had the debt, why didn't she file alone?

[BNKRPTinNC]

.....so I chose to file joint, because it was the most beneficial thing to do for our budget..

Asked and answered.

And let us know if you have something to add to the original poster's question, other than what you posted above.

I'll second this.

I have found this forum to be informative and instructive; constructive advice from those who have "been there done that". To be judgemental or critical of another's personal and unique situation does little to advance the good will that is generally the premise of this medium.