How's your life after Chap. 13???

[lrprn]

I guess I just don't understand the whole chpt 13 process.

Ch 13 is not just for saving assets, FS. Often Ch 13 is the ONLY option because we can't qualify for Ch 7 no matter what we sell or surrender.

So what's better....falling farther and farther behind on secured and non-secured payments every month for years until you start getting judgments and garnishments against you and you eventually lose everything?

Or file Ch 13 and be in good financial shape in 3-5 years because mortgage arrears, car arrears, IRS taxes, back child support, etc are caught up and paid in full, you own your cars free and clear, and you then only have any left over secured loans to pay?

Choice seemed pretty obvious to us - we filed Ch 13.

See here for a good list of the advantages of Ch 13 over Ch 7 - http://www.mroselaw.com/CM/Custom/Ch...Comparison.asp . As you can see, there are many things a Ch 13 can do to help filers that a Ch 7 cannot.

[arlington]

How did you file and discharge so fast?!

[smarternow]

You will need to save everything you can

We just came out of a chapter 13 in June after 3 years (old law). We wanted to file chapter 7, would have walked away from house and everything, but in our district the court will not let you file if you make more than 42K a year.
The simple answer is no one wants to do a 13, especially now. It is set up to make you fail in every way. We made it with a good lawyer, putting aside every penny extra into savings (because you will need it) and really skrimping. Be brutal in your household budget. I am really sorry if you have to go 5 years. Good luck to you.

[whatamess]

The only deed restrictions I have is that I can't have a pig farm and I can't sell moonshine from my still.

OH MY Goodness granny you crack me up!
Seriously, the pure nerve, no moonshine or pigs????? If you ever start selling any I may have to just ride on down...
It does sound nice not to have restrictions. Up here many areas wont let you have unused cars or clothes lines on your property,or more than two dogs or any outdoor cats. My late father had to take down his ham radio antenna. I agree your freedom was worth protecting....
I admire anyone who can complete a ch. 13. Good for all of you!
WAM

[Granny]

OH MY Goodness granny you crack me up!
Seriously, the pure nerve, no moonshine or pigs????? If you ever start selling any I may have to just ride on down...

You missed the fine print...I can have a still, I just can't sell the moonshine. But I can give it away all day long.

It does sound nice not to have restrictions. Up here many areas wont let you have unused cars or clothes lines on your property,or more than two dogs or any outdoor cats.

No outdoor cats, I would be overtaken by rattlers. We had one in our sunroom a few years ago, now I have plenty of cats and no snakes.

My late father had to take down his ham radio antenna.

Too bad, my dad was a radio nut before he passed away, the neighbors had fits, but he soooo enjoyed it. Not the fits, the radio. hehehe