Just got my payment amount and about to scream!

[Granny]

So in actuality your bk payment is $424, and that includes the trustee's 10% for your house, which should be another 67.00 per month.

I just sent you an YM.

[B12]

The allowances have not changed, but to be safe, use the updated info url for after Jan.

[kiddles]

If you make so little, for a familyof five - are you sure you can't file a Chap 7? Is your attorney pressuring you into a 13 (they make more money on a 13, and some will try to get more 13's; certainly, some won't and really are looking after your best interests. I don't mean to insult your attorney - just making sure you've talked about a 7).

[Granny]

She is trying to save a house with late mortgage payments, therefore, needs the Ch 13.

[rrockinggramma]

Your secured debt in the payment is at least 677 for the mortgage monthly PLUS the arrearage and the vehicle you included and your furniture. Probably that is why so high. You have to fund the plan to cover those secured items 100 percent. Our trustee percentage is only 4 percent and he has been paid a minimal amount in my plan for the past 24 months. Your lawyer fees are also rolled into the plan and those are paid at 100 percent as well. So that all being said, your weekly expenses should be groceries, clothing, utlities, and medical co pays, and insurances, with all other bills in the plan. It is true that a chapter 13 can be difficult. But the MOST difficult part is learning to live on a budget and using cash only. With this budget you will join the rest of us who clip coupons, buy second hand, and treat your family once in a while. The reward will be the release of the stress knowing that as long as that payment is made to the trustee, your home and your car are safe and creditors can quit calling. But as in my own exerience the first few months you hold your breath because you have no credit card to fall back on etc. With a positive attitude shared by the entire family that you all together can make this work, it can happen. And it will mean saying no to your kids, but in the end, you will feel like you really accomplished something important.

[kiddles]

With a first and second mortgage on the home, is there so much equity that she would lose the house in a chap 7?

I believe Tx allows the federal exemptions - about $18K, I believe. So, unless there's some serious equity in the house, the trustee can't take it, and even if there is equity - it has to be enough to cover their exemption, pay auctioneers fees, trustees fees and still have enough left over to pay creditors. Maybe $35 to $40 in equity before it's worth seizing.

[Granny]

With a first and second mortgage on the home, is there so much equity that she would lose the house in a chap 7?

I believe Tx allows the federal exemptions - about $18K, I believe. So, unless there's some serious equity in the house, the trustee can't take it, and even if there is equity - it has to be enough to cover their exemption, pay auctioneers fees, trustees fees and still have enough left over to pay creditors. Maybe $35 to $40 in equity before it's worth seizing.

The homestead exemption covers her equity....she is behind in payments.

[Boscoe]

think of EVERYTHING you pay $ for, haircuts, hair salon, beauty salon, car washes, cleaning supplies, entertainment - within reason of course...

Actually, you should be filling out form B22C - much of this is mandated by the new bk law. Ask your attorney. Also, charitable contributions you give to your church - I am sure you give something every week, right? We give cash each week and that worked for us......

[arkienurse]

now you got me alittle scared to sign the papers. Is the payment so high because our expenses were low?
I tryed $500.00 for grocery's per month...200.00 in gas per month.....200.00 light bill...and 60.00 water bill. Then 10 for internet and 50.00 for clothing which I should of put more for my kids. And insurance 30.00 and 53.00 that does it for expenses so is that why the darn payment is so high? OH and two personal auto loans which are 53.00 and 68.00 per month. Now I don't think that gives us enough money to pay those bills. I think we might be begging for welfare to help with food.!!! REALLY

I would up your grocery and clothing allowance. I had no idea when we filed 3 years ago, but the lawyer put in 600/mo for food, 500/mo for clothing. This was for a family of 6 at the time, and expenses have gone up. I also know that we pay more like 350-400 mo for gas, but we were budgeted 250 3 yrs ago. Ask the lawyer if trustee will object to these larger amounts.

[BrianBlade]

wow, glad my g/f doesn't have a house anymore. Her payment will be $855 which includes her car payment of $646 ( which will be lower since it'll be extended out 5 more years ) , the fees and paying the IRS and State of alabama. She is only paying I think $200/mo to unsecured. She is lucky because she can make a ton of money that varies from week to week and she doesn't have kids. Right now, she is paying almost $2,000 so the bankruptcy won't be hard for her but I can imagine with 3 kids etc, that's tough!
What is your income? Why are you keeping the home if things are that tight?
You say you are left with $200 a week.That is $800/mo? How much do you need ? What are you paying now for everything? Is $1100 less?

[doglover]

So how did it go texas? I hope it went in your favor.

[CindyLou]

wow, glad my g/f doesn't have a house anymore. Her payment will be $855 which includes her car payment of $646 ( which will be lower since it'll be extended out 5 more years ) , the fees and paying the IRS and State of alabama. She is only paying I think $200/mo to unsecured. She is lucky because she can make a ton of money that varies from week to week and she doesn't have kids. Right now, she is paying almost $2,000 so the bankruptcy won't be hard for her but I can imagine with 3 kids etc, that's tough!
What is your income? Why are you keeping the home if things are that tight?
You say you are left with $200 a week.That is $800/mo? How much do you need ? What are you paying now for everything? Is $1100 less?

Remember, CG, its not confirmed, til its actually confirmed. Don't put the cart before the horse. Once its confirmed then you can say for sure what your payment will be. Until then it is just a plan that you have submitted. Your case is a very "iffy" plan and you are lucky to have a confident attorney. My brother's BK was similar to your's, but his attorney was very up front with him that until his confirmation, his plan was exactly that, a plan.

TexasLady, though I do not agree with the tone in which the way Brianblade asked you the question regarding as to why you are keeping your home, I do also wonder the reason as to why you have chosen to keep it also. Have you considered giving up your home and filing a 7 so that you could get a complete fresh start?

Even keeping the home I am confused as to why you are paying anything to your unsecured creditors (did I read that wrong?) I am sorry that you are going through so much stresss right now. I hope that we are able to be here to support you through this time and we can at least listen to you vent and offer some advice. You will get through it and have some better days ahead!!!!!

[BrianBlade]

My tone? What do you mean? I don't even see a tone in my typing. I just asked a question.
It didn't make sense if things were tight for her to keep her home. That's why I asked.

[newbie2]

Most of us that are here are *not* stupid.

If it walks like a duck, looks like a duck and talks like a duck, I would venture to believe it is a duck.

CityGirl, please stop prentending to be your "boyfriend" BrianBlade. The verbage is the same, the tone (yes tone!) of your posts are the same, even the nosy personal questions you ask are the same.

I'm not going to apologize for hijacking the thread. I for one am sick of the condemnation and judgemental tone that CG has for others here. I am also sick to death of reading how her bk is going to be a piece of cake when many many others (myself included) are truly struggling.

[JRScott]

Texas how did it go?