I have an email into my atty but am curious for answers from you guys on your experiences as well...
We're almost 3 years into our 5 year plan. Have 2 car loans both crammed and payments are rolled into our payment plan. Our payment basically pays for our trustee fees, our two car payments, attorney fees, and a little extra. We went around and around with the trustee to get confirmed, the amount our trustee came up with as the minimum needed to pay per month to pay secureds being about $130 less than the trustee said. I gave in just to get confirmed. But now here we are - my car is dying. Mechanic said both transmission and engine are throwing codes that they are both having issues. I'll drive it til it dies, but when either goes it won't be worth the money to fix so I'm trying to get all the info I need now so I'm not majorly stressing when the time comes...
SInce the loan was crammed, only about $70 of my ch13 payment goes to pay off the loan. So, I'm guessing my ch13 payment would go down those 70 bucks, and I MIGHT be able to fight to get that other $130 as well, we'll see though.
What will be required to get approval from the trustee? New schedule J and new budget? also, will they want a copy of the write-up from the mechanic stating what the issue is and repair estimate?
what will the trustee's approval include - do they just say you're approved for x amount? Do they say you can't spend more than X dollars total, and the terms can't be more than 60 months, or whatever? Where is the best place to apply for a loan and would we be directed to use a specific car dealership?
Being 3 years into our plan and having taken on no new debt, any guesses as to what sort of interest rate we'd end up with? I am guessing our credit scores are maybe in the mid 600s?
any advice or tales as to what your experience was would be so helpful!
We're almost 3 years into our 5 year plan. Have 2 car loans both crammed and payments are rolled into our payment plan. Our payment basically pays for our trustee fees, our two car payments, attorney fees, and a little extra. We went around and around with the trustee to get confirmed, the amount our trustee came up with as the minimum needed to pay per month to pay secureds being about $130 less than the trustee said. I gave in just to get confirmed. But now here we are - my car is dying. Mechanic said both transmission and engine are throwing codes that they are both having issues. I'll drive it til it dies, but when either goes it won't be worth the money to fix so I'm trying to get all the info I need now so I'm not majorly stressing when the time comes...
SInce the loan was crammed, only about $70 of my ch13 payment goes to pay off the loan. So, I'm guessing my ch13 payment would go down those 70 bucks, and I MIGHT be able to fight to get that other $130 as well, we'll see though.
What will be required to get approval from the trustee? New schedule J and new budget? also, will they want a copy of the write-up from the mechanic stating what the issue is and repair estimate?
what will the trustee's approval include - do they just say you're approved for x amount? Do they say you can't spend more than X dollars total, and the terms can't be more than 60 months, or whatever? Where is the best place to apply for a loan and would we be directed to use a specific car dealership?
Being 3 years into our plan and having taken on no new debt, any guesses as to what sort of interest rate we'd end up with? I am guessing our credit scores are maybe in the mid 600s?
any advice or tales as to what your experience was would be so helpful!
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