Do you think This is Fair ?

[andy158]

I will gladly trade payments.

$80k/yr joint income
$700 mortgage outside plan
$375 car outside plan
2 kids still at home

$1,050/mo plan payment.

[nsupanda]

There's no way for me to tell if it's "fair" or not... but our income for 2011 was right under $80,000 and our monthly payment is $1430. Our house is free and clear too. Wanna trade payments??? LOL

[LadyInTheRed]

I will gladly trade payments.

$80k/yr joint income
$700 mortgage outside plan
$375 car outside plan
2 kids still at home

$1,050/mo plan payment.

With similar income, I'll trade you my $500 plan payment if you will trade your mortgage payment for my $1700 mortgage payment. But, wait! My $300 car payment and attorney fees are included in that $500. I think I'll stick with mine unless the mortgage swap will continue after our plans are complete.

This thread is a good illustration of why comparing our plan payments is pretty meaningless without a comparison of our entire situation. There are so many factors that will determine each debtor's plan payment. What is important is that when your attorney tells you what your plan payment will be, you make sure you understand how it was calcualated so any errors can be corrected. If there are no errors and the payment still sounds too high, you need to reevaluate whether (1) you neeed to get more realistic about your budget, (2) you are trying to keep assets you can't afford and/or (3) BK is a good option for you.