Re: LadynRed (m)
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Posted by LadynRed
(199.91.33.254) on August 01, 2003 at 14:41:41:
In Reply to: LadynRed (m) posted by Julie on August 01, 2003 at 13:49:16:
What state are you in ? It certainly can be if you and your lawyer don't get your normal expenses pushed as high as they can possibly go and not be thrown out by the court. ALL of your disposable income goes into the Plan for the duration. Unless your budget is maxed out up front, you could find yourself in dire straights if your car needs repairs or the house, or anything else unforseen and costly happens. There simply is NO money 'left over' to pay for that kind of thing. If it happens and you HAVE to spend the money, you're going to have to get PERMISSION from the Trustee to take on any new debt to pay for the emergency or whatever. 65% of all Ch 13's fail - that's a pretty dismal statistic. If you can live w/o most of the 'frills' that you're used to, then you may make it thru just fine. Since you're behind on your secured debts, I hope you realize you'll have TWO mortgage payments to make - your regular mortgage payment AND the additional to make up for the arrearage. Same for the cars. CH 13, if not planned for right, can be extremely restrictive - there's NO wiggle room at all, the court gets every last penney. As for any raises, you're better off consulting with your lawyer on that. The prime reasons for you for CH 13 are the arrearages, the equity in your home, and your gov't job. I can only urge you to make certain your lawyer has your expenses and budget maxed out as far as they'll be allowed by the Trustee(s) in your district.
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