Filed Chapter 13 today!!

[jade73]

So we met with the Attorney & Paralegal today and filled out all the paperwork for Chapter 13. Listed all our creditors, most of which were unsecured. We signed papers like we were closing on a house and told them that we didnt want to file until after July 1st so we wouldn't have to make another house payment until Aug 1st and they were cool with that. We'll be paying $170/month for 36 months. We have to pay $50 for the credit counseling & $274 for the filing fee. All our unsecured debt will be wiped and basically all we are paying in the plan is the attorney fees and our mortgage payments we were behind on.
Was also told that when we start making our mortgage payment on Aug 1st that it will be reported to the credit bureaus as on time and hopefully in a year we can refinance and get rid of these 9 % & 11.75% rates we have. Seemed way to simple but the Attorneys office is the largest bankruptcy filer in GA so I'm guessing they know what they are doing. I'm relieved!

[95kindebt]

woo hoo!! Thats great they were able to tell you how much your plan will be!! I'm hoping that when we meet with the attorney on July 6th, we'll get some answers too.
Although I must say that this board has been irreplaceable in the amount of accurate info I have gotten!

[jade73]

Yes I got alot of answers to all my questions from here and when I asked the paralegal today, most of them were right on the money! I feel like I'm making a new start!

[Billssuck]

Jade73,

Congratulations! We're paying $125 for 36 months and wiping out $107K in unsecured debt and it feels good. However, the adjustment from not using credit cards is still in process as I used them for so many years for living necessities and now I have to really decide if I truly need something before I buy it. Quite a change in lifestyle but well worth it. Let's hope these three years go quickly and that we learn a true life lesson out of this to live within our means.

[jade73]

Jade73,

Congratulations! We're paying $125 for 36 months and wiping out $107K in unsecured debt and it feels good. However, the adjustment from not using credit cards is still in process as I used them for so many years for living necessities and now I have to really decide if I truly need something before I buy it. Quite a change in lifestyle but well worth it. Let's hope these three years go quickly and that we learn a true life lesson out of this to live within our means.

It wasn't so much that we had cc debt we just got behind on the mortgage and had some unsecured loans so I do know that you don't buy as much when you are not charging it. It's so easy just to pull the plastic out and know you will pay for it later but when it's your 'money' you'll be like...NO I DON'T NEED THIS :-) Good luck to you!

[knotholeone]

hey billssuck can I ask you what your income is? my payment on my 13 is 1400.00 per month and my debt was only 88.000. our salary is 98.000 per yr.