Chapter 13 Experience Please

[thirdtimer]

Well, its been 47 months we have 13 more to go in our 5 year plan. I tell you it has been a whirlwind. we are paying 100% now, at first it was 51% then 83% and now 100. reason being so of the debts were paid off early, example, some accounts were non interest and the plan had added interest, so when they were notifed that some were being paid off faster then they up the %. sounds crazy but whatever the base of the plan has to be paid into it regardless if some creditors are paid off sooner. well its been CRAZY!!!!!!!!!!!!! difficult to understand but just taking it a month at a time.

[aa06a47]

Well, its been 47 months we have 13 more to go in our 5 year plan. I tell you it has been a whirlwind. we are paying 100% now, at first it was 51% then 83% and now 100. reason being so of the debts were paid off early, example, some accounts were non interest and the plan had added interest, so when they were notifed that some were being paid off faster then they up the %. sounds crazy but whatever the base of the plan has to be paid into it regardless if some creditors are paid off sooner. well its been CRAZY!!!!!!!!!!!!! difficult to understand but just taking it a month at a time.

Sounds like your close to seeing light at the end of the tunnel. Congratulations. Has your payment changed any since you started? I understand under the old law, only 3 years of "dispoable" income had to be committed, after the 3rd year, anything extra was yours.

[thirdtimer]

nope, the payments remains the same, i wish that was true. As far as I know we have to pay for the full 60 months. The time does go by pretty fast, but I know this last year will drag. In need of new cars, furniture, appliances, you name it. Havent shopped for anything major since we have been in this thing.

[aa06a47]

nope, the payments remains the same, i wish that was true. As far as I know we have to pay for the full 60 months. The time does go by pretty fast, but I know this last year will drag. In need of new cars, furniture, appliances, you name it. Havent shopped for anything major since we have been in this thing.

I'm just hoping no major appliance I have breaks in the next 5 years. All my appliances, stove, refridgerator, washer, dryer, are 14 years old. I'm praying now... I'm really worried about my refridgerator right now.