So last week was our official 5-year anniversary of filing CH 13. It's been a long haul and we're not done yet (the trustee is letting the plan go for 65 months using the confirmation date as the "clock") but we're so close to finishing this portion of our financial lives, I can taste it!
During the CH 13 hubby and I had both our cars die, he became disabled so had to have our plan re modified (that's the reason for the 65 month clock, we has a 3-month wage order suspension that we need to make up and the trustee is letting us do it over 5 months since our income went down so much), furnace died, central air died, compressor in the fridge went kaput, had major electrical and plumbing issues in the house, pretty much all those pesky annoying life events that suck the savings dry. Luckily we have a reasonable trustee and a good attorney who set up a plan that could survive it all, I was able to pick up extra work here and there to make ends meet (our trustee doesn't penalize for that) when the emergencies happened, and we made it through even the bleakest financial times. (including lots of times we had to wrap up the change collection jar to make it to a payday!) I'm the budgeter and saver in the family, hubby still blows too much $ on unnecessary items, but we're so much better about it than we were 5 years ago.
Anyhow, just wanted to say, even if it is premature, that it is possible to get through a CH 13 no matter what the horror stories those of you thinking about filing are hearing. Educate yourself on the process, fight for a livable disposable income, stay under your trustee's radar if you can, and budget, budget, budget, and if you do those things then even all the financial hiccups that are sure to happen along the way are do-able.
During the CH 13 hubby and I had both our cars die, he became disabled so had to have our plan re modified (that's the reason for the 65 month clock, we has a 3-month wage order suspension that we need to make up and the trustee is letting us do it over 5 months since our income went down so much), furnace died, central air died, compressor in the fridge went kaput, had major electrical and plumbing issues in the house, pretty much all those pesky annoying life events that suck the savings dry. Luckily we have a reasonable trustee and a good attorney who set up a plan that could survive it all, I was able to pick up extra work here and there to make ends meet (our trustee doesn't penalize for that) when the emergencies happened, and we made it through even the bleakest financial times. (including lots of times we had to wrap up the change collection jar to make it to a payday!) I'm the budgeter and saver in the family, hubby still blows too much $ on unnecessary items, but we're so much better about it than we were 5 years ago.
Anyhow, just wanted to say, even if it is premature, that it is possible to get through a CH 13 no matter what the horror stories those of you thinking about filing are hearing. Educate yourself on the process, fight for a livable disposable income, stay under your trustee's radar if you can, and budget, budget, budget, and if you do those things then even all the financial hiccups that are sure to happen along the way are do-able.
Discharged 9/23/14!
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