We have 14 months left in a #13 with a monthly payment of 1100.00..2 autos with the balances on each which is ($2250) ($9000) and IRS 4500)... We have not been able to save any money so far...This has been one tough road..I am considering calling my lawyer and ask if i could let them repo the 2010 camry with the 9000 balance...I have another beater truck that I could use as my secound auto...It has been tight from the start...however as the cost of living has increased it seems to leave us waiting on payday each month...any advice please...
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Are your car payments included in the plan, or do you pay them directly to the lender?LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent! -
Originally posted by LadyInTheRed View Post
Yes both cars and IRS are in the plan...we surrender our home when we filed...Comment
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I know what you mean about waiting on each paycheck!!! It's tuff! Yesterday I had to get gas but I waited to long to pull out cash because it's tight. I barely made it to the gas station and I just kept thinking how I haven't had the fear of running out of gas since I was a teen!
Sorry, I don't have much else to offer only understanding! Best of luck!Discharge date: October 2017 (will it ever get here?)
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Originally posted by LadyInTheRed View Post
Yes both cars and IRS are in the plan...we surrender our home when we filed...Comment
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Unless your plan already pays 100% of unsecured claims, giving up your cars probably won't lower your payment unless you can show your dmi has decreased. It will just result in unsecured creditors getting paid more. It can't hurt to contact your attorney to see if your plan could be modified to reduce the payment if you give up the car.LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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Thanks LITR...I am not paying any unsecured claims in my plan...Only what is mentioned above...I just I will just try to hang in there and get thur this...Thanks for the feedback...I haven't spoken with lawyer and probable will not now...Originally posted by LadyInTheRed View PostComment
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So, your plan only pays secured debt and taxes? Definitely talk to your attorney.LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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Yes LITR...home was surrender 145K...2nd mortage 25k & 9K in CC & Medical...We reafirmed 2003 & 2010 autos...also with the IRS...Comment
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Actually, there is no such thing as reaffirming a debt in Chap 13. Your plan probably pays 100% of the car loans, or they were crammed down. If you are able to modify your plan to surrender on of the cars. Then the lender would probably have an unsecured claim for any deficiency. So, depending on how yor plan was structured, you MIGHT be able to lower your plan payment.
Please let us know what your attorney tells you.LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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