I Guess I will be filing a CH7 instead of a CH13...

[BrokeDavis]

Yea...after the back and forth, it looks like I will be filing. 13 after all. My just don't understand why my attorney is putting me on the 5 year when I should qualify for the 3. Maybe because it lowers the payment some, idk...but I will see if I can make it work since I don't make tons of money.

[LadyInTheRed]

Yea...after the back and forth, it looks like I will be filing. 13 after all. My just don't understand why my attorney is putting me on the 5 year when I should qualify for the 3. Maybe because it lowers the payment some, idk...but I will see if I can make it work since I don't make tons of money.

I guess you've done some more back and forth since you posted this. Yes, the 5 year plan was probably to make your payment more manageable since you would have to pay off the mortgage arrears during your plan if you wanted to file a 13 and keep your home.

That leads to some very important advice for a successful Chap 13: Don't even file a Chap 13 if you are trying to keep assets that make the plan payment too high to manage. Better to give up the assets and file Chap 7. Okay, I guess that isn't advice for a successful Chap 13. Just advice on how to avoid a failed Chap 13.

[BrokeDavis]

Absolutely LITR! Thank you so much for all your insight. I was on the fence earlier, still in denial thinking I could make this work. So instead of a failed 13, I'm going to the route of a successful 7

[AngelinaCat]

Absolutely LITR! Thank you so much for all your insight. I was on the fence earlier, still in denial thinking I could make this work. So instead of a failed 13, I'm going to the route of a successful 7

Hi BD: I am pleased to be reading this. In my humble opinion, you are embarking on a far wiser course of action than trying for a CH13, that from the figures you gave us, you would be unable to fund and successfully discharge a CH13.

[BrokeDavis]

Thank you AC...I am content with my decision to file a 7. I realize it's time to cut my losses. I tried to recover the house in the beginning, but now it's time to move on. There's plenty of other houses out there and once I'm done with school I can go that route if I feel it'll be best for my family.

[AngelinaCat]

Hi again, BD:

I moved all of your posts concerning this matter, from the end of that VERY old thread, into this new one for you, so that your fellow-members can better see and respond to it.

My very Best Wishes for a truly Happy New Year, and New Start!

[BrokeDavis]

Thank you!!!