Question timeline for 13 and other questions

[dunno]

Anybody have a step by step of what to expect with 13?

When do I begin repayment?

Can I get a secured CC after filing?

Will I be able to get another lease/purchase auto when current one expires Mar 2010?

What's this part about payments changing?

What causes payments to change? (I am commissioned sales [for now, looking for steady income/hours!] and my income fluctuates....

What if I have a truly rotten month and can't meet basic living expense PLUS the re-affirms and the scheduled payment?

What if I have a really good month?

How about hubby and I being officers of our now-defunct (but not dissolved) company? (small AC biz in FL, no inventory/assets/income, but there could always be unseen debt at a later date)

How about the bank account that me and my son are on? I opened it so he could have an account at a local CU.

What about the CCs that I made my son and daughter authorized users (back when I had stellar credit and intended to 'help them out")?

Why do I have to state the deposit I have with the apartment lease? [there's NO WAY this complex will ever refund any money, according to their stats]

Are there any other issues that can come back to bite? I am VERY concerned about some of the "stuff" I have from my "other" life. I wish to disclose, but not if it's not a big issue... (no jewelry, but I do have a LV purse I won in a sales contest, and I'd be LOST without a computer!)

Dunno

[HHM]

Anybody have a step by step of what to expect with 13?

When do I begin repayment?

Within 30 days of filing your chapter 13 petition

Can I get a secured CC after filing?

You don't need one, and think about this, where would you get the cash to secure it anyway.

Will I be able to get another lease/purchase auto when current one expires Mar 2010?

Yes

What's this part about payments changing?

What causes payments to change? (I am commissioned sales [for now, looking for steady income/hours!] and my income fluctuates....

It's rare, most chapter 13's, once in place, are not altered.

What if I have a truly rotten month and can't meet basic living expense PLUS the re-affirms and the scheduled payment?

(a) you don't reaffirm secured debt in a chapter 13, you either retain or surrender the asset, if you retain, you keep making your regular payment. (b) You need to factor this into your payment plan. If you have a particular time of year you know is always bad and can prove it, you can arrange your payments accordingly. In any event, you MUST make your payment each month, no exceptions

What if I have a really good month?

You save that money for the bad months. The trustee does not audit you on a month to month basis.

How about hubby and I being officers of our now-defunct (but not dissolved) company? (small AC biz in FL, no inventory/assets/income, but there could always be unseen debt at a later date)

You better make sure you identify all potential creditors and list them in your chapter 13

How about the bank account that me and my son are on? I opened it so he could have an account at a local CU.

Not an issue, in a chapter 13, you retain assets.

What about the CCs that I made my son and daughter authorized users (back when I had stellar credit and intended to 'help them out")?

Odds are, those cards would be closed an unusable, but your children will have no liability.

Why do I have to state the deposit I have with the apartment lease? [there's NO WAY this complex will ever refund any money, according to their stats]

Technically, its your money. But its not a big deal, again, in a chapter 13, you retain your assets, the trustee does not take anything.

Are there any other issues that can come back to bite? I am VERY concerned about some of the "stuff" I have from my "other" life. I wish to disclose, but not if it's not a big issue... (no jewelry, but I do have a LV purse I won in a sales contest, and I'd be LOST without a computer!)

Dunno

Ok, the basic timeline for a chapter 13 is

1. File case
2. You must make your 1st payment within 30 days of that date.
3. Within 30-45 days, you will have your 341 meeting.
4. Ususally within 15-30 days of the 341 meeting, you will have your confirmation hearing. The confirmation hearing finanlizes your chapter 13.
5. You make your payments each month to the trustee.
6. At the end of 60 months (from the date you filed), your case is discharged.

[dunno]

Wow. that was outstanding!

I feel so lucky to have found this place!

I'm sure I'll find other stuff along the way to ask....

Dunno

[justbroke]

I couldn't have said it better than HHM. There are some nuances based on which District you file in. However, the timeline is pretty dead on.

There are so many what-ifs that can occur. The key is, that you'll be under a tight budget. When you get a windfall, try to save it in a rainy-day fund. Trust me, it will come.

You may all of a sudden need new tires (I did, 2 days after filing). You may have to then update your insurance on all your secured property (I did, and it has cost me $$1,800.00).

The key is, the lifestyle change you'll endure no matter how much money you are "allowed" to have in your budget. My budget is sizable, but with heavy duty expenses for utilities, family of 4, 2 cars, etc, etc... it can be wiped out in an instant!

[dunno]

Tell me about it!

I used to make good money - now with all the debts and lifestyle accumulated from those prosperous times makes budgeting HARD. Mostly, heh, it's my grocery expense.

But then, with a type 2 controlled diabetic in the house, we must mkae sure food is available every 4 hours. I mean, good for you food.

I am really not looking forward to the stringent budgeting, but then, I am too.

Can't believe we got into this sitch.