Any Successful Chapter 13's?

[Billssuck]

I have only 10 months left in my ch13 and my husband lost his job during it, had to have a $2,100 car repair, lawn mower broke down ($800), etc. As a result of my husband's job loss, we have had to surrender our house (an asset we could never afford and should have given it up from the start) but we are doing fine. It has been tough but knowing our $107,000 unsecured debt is gone from our future (and the ability to retire at some point), makes sticking to the ch13 worth it. For me, the very first thing paid each month is the ch13 payment (even before food). Just my perspective!

[spidge]

So far so good for us. Our plan payment is almost identical to our 401K loan and I just made the last payment to the loan. Since it was only effecting the first 6 months of the plan it was not considered so we are now in a good spot to start building an emergency fund. The wife does not get payed in the summer which will make things tough for now, but my overtime goes through the roof to make up the difference. Through the great advice and stories here we were able to set up for the pre-filing to optimize our position and create a workable plan. Now I can add to my 401K and take advantage of some company match and all the benefits that come with that. Buying with cash sure feels good to.

[andy158]

It has been tough but knowing our $107,000 unsecured debt is gone from our future (and the ability to retire at some point), makes sticking to the ch13 worth it. For me, the very first thing paid each month is the ch13 payment (even before food). Just my perspective!

Agreed. Our $120k + debt was never going to be paid off in our lifetime unless we hit the lottery. In three more years we will be totally debt free sans the mortgage. Seriously funding our retirementt for the next 15 years is within our reach. Along with what was protected in the bk13 we will fair pretty good. Knowing that the debt burden will soon be gone is a blessing.

We have had no problems to date with anything pertaining to our plan. Had a major car repair last month, but borrowed against my 401k and drained the emergency fund to replace the transmission. That will be paid back in 17 more months @ $80/mo. Just got a 3% raise at work that will cover that payment. No regrets, no major problems and best of all less worries.

[knitty]

"No regrets, no major problems and best of all less worries."

I second that! The problems we have had are ones of budgeting, which we have never been good at; we have been inconsistent in building an emergency fund and have been late with trustee payments in last 6 mos; hubby retired this month (not good financial decision but health was worsening in job) so will have continued "issues". We'll be talking to attny. re modifying the plan but we're less than 2 yrs. from finishing this so may just "soldier on".
With all that said, filing BK was the best decision we made, should have done it 2 yrs. earlier (would have if I had found this site sooner!) than we did...wasted our time and money with debt settlement program. And the best thing is that at the time I will retire we will be debt-free and have $1500 more in our budget. (We're letting the house go, but that's another story)
Getting control of your finances, and dealing with your attitude and feelings about money, are crucial to a successful 13....along with a competent attny. Good luck to all of you.

[MotherTrucker]

Not discharged yet, but just made our last payment on a 5 year plan on 6/30/2011 AND got some $$ back from the Trustee! YAYHOO!! Hang in there, it can be done. It does get easier over time as you learn how to budget effectively within your personal situation. The first year for me was the most difficult, but we persevered. We also had a mortgage adjustment on top of it and we still made it. You can do it!!!

[MOMof3]

My husband has changed jobs and I've given birth to 2 of my 4 kids during my chapter 13. I tell people that if I can do it, anyone can I will, however, be extremely happy when it's over!! Only 7 months to go!!

[tbon]

LRPRN is right!
Another thing that I have noticed on here the 4 1/2 years I have lurked... really everyone's situation depends soley on the STATE that you live in!
All states (though they have general same rules on C-13) do things a little different, as well as the Trustee's in those states!
Our Trustee has been VERY lienent on us, as we have indeed had a few "glitches" along our plan... and your attorney is key in helping you thru those glitches!
Sincerely~ I can't imagine any Trustee not understanding that anyone isn't going to have SOMETHING happen during the course of a 13... but you have to let them know ASAP.... once you've established a "trust" so to speak amongst your attorney and Trustee... they usually allow some modification if needed~ our Trustee has been great! And I must say, the day of our 341....I thought he was an A** !! I really thought we were in big trouble~ but he has been exceptionally considerate...but then again, we are in a 100% payback, and have been current..... its not been a picnic though, thats for sure!!