I have a lawyer philosophy question

[flyinbroke]

I am interviewing more attorneys and pondering pro se. I too am a dog owner, and the first lawyer's numbers for a 13 left me 800 after I pay rent. This is for everything. Utilities alone (not counting cable) eat 25 percent of this 800. One of mine is an elderly girl and will get her vet treatments and premium food that she can digest.

The reality is only the 7 filers get an honest to God fresh start out of the gate. It definitely would appear that 13 filers are forced to go without everything but bare bones expenses until you pay back debts. And I thought I was done with ramen and peanut butter when I graduated college and got a good job...

[Flamingo]

I am interviewing more attorneys and pondering pro se. I too am a dog owner, and the first lawyer's numbers for a 13 left me 800 after I pay rent. This is for everything. Utilities alone (not counting cable) eat 25 percent of this 800. One of mine is an elderly girl and will get her vet treatments and premium food that she can digest.

The reality is only the 7 filers get an honest to God fresh start out of the gate. It definitely would appear that 13 filers are forced to go without everything but bare bones expenses until you pay back debts. And I thought I was done with ramen and peanut butter when I graduated college and got a good job...

A Chapter 13, while hard, has its advantages...it is the best budget teacher in the world and never again will you get in a big mess with credit cards; in fact, after a while you don't want to ever see one; you learn to live on a cash only basis which is a true eye opener for many; you learn you don't need every gizmo in the catalogue and don't have to have a pair of certain shoes in 95 different colors, etc.,, etc. While filing Chapter 7, if one is eligible, is always the best route since a 13 does have its hardships, many Chapter 7 filers find themselves back in the credit trap more quickly than someone who filed a 13. Also, it has been stated to me personally by bank reps, brokers, car finance reps, attorneys and others that folks who file Chapter 13 are looked upon more favorable credit-wise if they have a successful Chapter 13 with no late payments. To prove that point, a Chapter 13 only stays on your credit report for 7 years from the date of filing whereas a Chapter 7 stays on 10 years.

It is what it is and you have to do what ya gotta do...

[flyinbroke]

I see your point and this works for spendaholics. I already had a tight budget, and still don't see living with 25+ percent of residual income going to just electric, phone and water. I wonder how badly this screws up student loans too, since they don't get the full minimum amount from what I have read.

There is one advantage I can think of: as a veteran I can qualify for a VA loan a year into a 13, while I have to wait 2 years on a 7. They will never approve me though, since my DTI on plan #1 has me at 55 percent, while the 7 filer has a 0 percent.