Should we complete Chapter 13?

[summerrain]

We filed for Chapter 13 because our attorney stated there was a 70% chance a Chapter 7 would be approved by the court because we are over the median income. The only thing we are paying for in our Chapter 13 is back child support $21834 and $1910 in back taxes. We did not own a home and did not have a car note. I'm seriously considering converting to a Chapter 7.

My husband is looking for employment and I'm concerned if he gets a job they will increase our payments significantly, which may not be much of a financial benefit for him getting a job (if that makes sense) due the fact we'll have increased childcare and will have to purchase another car. I'm new to this so forgive my uneasiness.

[newbie2]

We filed for Chapter 13 because our attorney stated there was a 70% chance a Chapter 7 would be approved by the court because we are over the median income. The only thing we are paying for in our Chapter 13 is back child support $21834 and $1910 in back taxes. We did not own a home and did not have a car note. I'm seriously considering converting to a Chapter 7.

My husband is looking for employment and I'm concerned if he gets a job they will increase our payments significantly, which may not be much of a financial benefit for him getting a job (if that makes sense) due the fact we'll have increased childcare and will have to purchase another car. I'm new to this so forgive my uneasiness.

First, your husband finding new employment isn't a bad thing. If your income increases it sounds like your expenses will increase also. It may be balanced enough that it won't add more disposable income to your plan.

Secondly, if the only reason you are in the 13 is because of child support and tax obligations perhaps those have already been paid off? (You don't state how long you have been in the plan or if you have been paying arrears in to the plan.)

Why don't you call your attorney for a face to face meeting and go over things again with him/her? It's so much better to get information face to face about your particular concerns than to worry and wonder.

[BNKRPTinNC]

Perhaps I am missing something but if the only thing you are paying thru the plan is back child support and taxes to what advantage would filing a 7 be as both are considered priority and would have to be paid in full either way? Stretching the payments over time, to me, would be better than having to pay all back immediately and wouldn't that be the case if converted?