Question about plan

[debtinohio]

Doesn't your trustee require a written appraisal for the home? I had to have one for each home I owned. This will give you an accurate # to work with.

Sounds like it would still be worth > than the 1st mortgage balance.

[95kindebt]

Ok friends,
I am a total IDIOT. Yesterday my brain was FRIED> When I did the math, I didn't include the money that goes into an account to pay our HELOC from hubbys paycheck.

So our NET takehome is $6032-$6332 (depending on the months bonus, taxed at 40%)

expenses are $4325

leftover $1707-$2007 a month. Is that better?

I'm so sorry!!!!

[debtinohio]

Much better. Good luck.

[newbie2]

95K, glad to hear that your plan is much more livable than you originally thought. You should do just fine now :-)

[justbroke]

leftover $1707-$2007 a month. Is that better?

Much better. I was worried that you'd be out on the street, starving at that!

[95kindebt]

Thanks everyone. I should have waited until my head was more clear to post. It looks like our payment is about 1200 a month. That includes 1-cram down, and one car payment that they insist has to be paid in the plan since we owe more on it than it's worth. we purchased it 120 days ago, becasue we knew it would be a long 5 years with a dodge dakota with 210k miles on it. we got finianced at 19% interest, so paying it through the plan we'll be saving about 14% interest.

It looks like our unsecured will be getting about $400 a month. Which is about 24K for about 110k in cc debt.

Once we've paid all of our bills heat taxes etc. we'll have about $1500-$1700 a month for food, clothes, personal care, and entertainment and gas. It's definately going to be a lifestyle change, but I htink a good one.

thanks for all of your input. It's so incredibly appreicated, You'll never know what this forum has meant for me!

[95kindebt]

finding this forum literally saved my marriage.

[justbroke]

finding this forum literally saved my marriage.

I'm so sorry to hear that. Just kidding! I'm glad that you're able to arrange your finances and keep the family unit strong.

[95kindebt]

justbroke- you crack me up!

One more question though....on our dmi it says $159. Pathetic. So how is it that we're paying $12-$1300 a month? Isn't that negative math?
Granted we have about 13k we have to pay back into the plan for husband to keep his LLC, and 2 guns.

[justbroke]

One more question though....on our dmi it says $159. Pathetic. So how is it that we're paying $12-$1300 a month? Isn't that negative math?

Nope! DMI means what's leftover after all allowed expenses!

Granted we have about 13k we have to pay back into the plan for husband to keep his LLC, and 2 guns.

Mmmmm... guns!

[debtinohio]

justbroke- you crack me up!

One more question though....on our dmi it says $159. Pathetic. So how is it that we're paying $12-$1300 a month? Isn't that negative math?
Granted we have about 13k we have to pay back into the plan for husband to keep his LLC, and 2 guns.

It's basically the 2 cars, trustee fees, lawyer fees, the 13K/Guns and your small % to unsecured that makeup that payment so sounds right even if it is negative math, lol.