Help with budgeting before filing

[cjsgac]

Hi-

I need help!

We will be filing Chapter 13 within the next few months. I have stopped paying all cc's and 2nd because it will be stripped. I have set up a new bank account. Here is what I have to pay:

2109 1st mtg due by 16th
517 car payment due by 23rd
418 car payment due 30th
400 juniper cc (lawyer advised us to keep paying for a while)
165 car ins due 2nd
221 cell due 2nd
243 xcel due 1st
215 comcast due 18th
1500 groceries/gas/etc

My husband gets paid $2135 twice a month, plus commission which is usually around $2100 once a month, total is $6370. This should be simple, but I am not getting it. How do I pay out of each check without going over? I have already changed due dates on the cars, but everything else won't budge. Do I pay everything late? Help!

[LIENSTRIPPIN]

Hi-

I need help!

We will be filing Chapter 13 within the next few months. I have stopped paying all cc's and 2nd because it will be stripped. I have set up a new bank account. Here is what I have to pay:

2109 1st mtg due by 16th
517 car payment due by 23rd
418 car payment due 30th
400 juniper cc (lawyer advised us to keep paying for a while)
165 car ins due 2nd
221 cell due 2nd
243 xcel due 1st
215 comcast due 18th
1500 groceries/gas/etc

My husband gets paid $2135 twice a month, plus commission which is usually around $2100 once a month, total is $6370. This should be simple, but I am not getting it. How do I pay out of each check without going over? I have already changed due dates on the cars, but everything else won't budge. Do I pay everything late? Help!

You will have to budget money from each pay period to go to the bills that will need to be paid. So if you have something due on the 20th and get paid on the 10th, leave that money in your account for that bill. Just deduct it as you had already paid it. I hope that makes sense.

[SMinGA]

Will your vehicles be paid in the plan? When do you expect to file? If soon, your attorney might say to go ahead and stop paying them directly.

If you are paid 2x a month (vs. every 2 weeks) then you may be able to have the plan payment deducted 1/2 each pay period.

If you try to pay the mortgage out of 1 check it may make other things tight since the mortgage is so much. Easier said that done, but you need to get on a routine so that you take 1/2 the mortgage payment out of each regular check. And perhaps use the commission (since it varies) for groceries, gas, and the things that vary. Such as clothing, entertainment, etc. as you would not spend the same each month. (And in months with lower than average commission you could cut some corners on groceries and entertainment and such.)

[cjsgac]

No, both vehicles and the 1st mortgage are paid outside of the plan. Thanks for your responses!

[justdeb]

you should be including in your budget everything... every monthly and yearly living expenses to include:

pers. property taxes
gas for the month
pet care/food
vet care
auto tags
auto inspection
auto maintenance
newspaper / magazine dues
car insurance
any other type of insurance (health, life)
AAA (if you have it) or any other type of membership
Doctors visits
Medication fees
Tithing
Gift expenses (birthday, christmas, etc)
clothing expenses
"blow money" (dinner out, movie, etc)
babysitting fees
child care expenses
pet grooming
school lunches
school activities (dances, year book, pictures)
summer activities for kids

etc etc etc

You need to have everything that you pay for the year budgeted monthly so that when its due, you wont have a huge bill at that time. Its the only way its going to work and you have to provide it all anyway for the lawyer and trustee when you fill out your paperwork. ;) Be honest and reasonable when entering your amounts, dont cut yourself short, but also look at your states allowed amounts. if you're over that amount, you'll have to provide justification as to why.

ETA: and.. you still have to have enough to pay the trustee every month whatever the amount is.