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Student Loans and Ch. 13 discharge

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Anonymous
Not applicable

Re: Student Loans and Ch. 13 discharge

Your Ch.13 payment was $2,700 per month, or your total budget was $2,700?

 

How closely did the trustee monitor you?  Was it like having somoene look over your shoulder the whole time or did they pretty much leave you alone if you were making the payments?

Message 21 of 26
dt3813
Regular Contributor

Re: Student Loans and Ch. 13 discharge

My monthly payment to the trustee was $2700 and change. I was fortunately not monitored closely at all, but I hear of others that were. I didn't send taxes or anything. They did keep one return and then I changed my taxes so I owed every year, so nothing would be taken.

Discharged Ch.13 6/24/15
Scores on discharge EQ669 TU650 EX654
current scores EQ776 TU775 EX758
WF $2500 WF $3000 Discover $6000 Target $1200 Amazon $5000 Jcrew $5250 Lowes $8300 Tjmaxx $5000 Cap1 $14750 venture $25500 jetBlue $21000 pier1 $5000 Amex $10000x2 AMEX $21,000 BoA$8000 CitiDC$8000




Message 22 of 26
Anonymous
Not applicable

Re: Student Loans and Ch. 13 discharge

Wow, $2,700 is crushing - that's over $150,000!

 

I'm looking at much lower payments, so I was hoping to sock away some savings during the Ch.13 and then use that to try to settle out any private student loans that haven't passed the SOL by the time it's over.  Not sure if that's a viable strategy or not though because my understanding was that they monitor us too closely for any kind of meaningful saving to take place.

Message 23 of 26
dt3813
Regular Contributor

Re: Student Loans and Ch. 13 discharge

I think it depends on the trustee. Mine was like $172,000 total play pay out. I paid like $3600+ for some time in the beginning. Thank goodness I wasn't monitored because I ended up with a higher paying job. I NEVER would have been able to afford my plan. In the 5 years I had 2 kids, 2 maternity leaves, hospital bills.....I never would have made it.

Discharged Ch.13 6/24/15
Scores on discharge EQ669 TU650 EX654
current scores EQ776 TU775 EX758
WF $2500 WF $3000 Discover $6000 Target $1200 Amazon $5000 Jcrew $5250 Lowes $8300 Tjmaxx $5000 Cap1 $14750 venture $25500 jetBlue $21000 pier1 $5000 Amex $10000x2 AMEX $21,000 BoA$8000 CitiDC$8000




Message 24 of 26
Anonymous
Not applicable

Re: Student Loans and Ch. 13 discharge

So you were able to change jobs during your Ch.13 and as long as you kept your head down and paid your payment the trustee didn't bother you?  Did you have to send in tax returns each year?  Did they just not care that you got a better paying job?

Message 25 of 26
dt3813
Regular Contributor

Re: Student Loans and Ch. 13 discharge

Somehow I flew under the radar. I made sure that no payments were late. Changed my garnishment when I changed employers. No one asked for tax documents...I think I may have gotten lucky.

Discharged Ch.13 6/24/15
Scores on discharge EQ669 TU650 EX654
current scores EQ776 TU775 EX758
WF $2500 WF $3000 Discover $6000 Target $1200 Amazon $5000 Jcrew $5250 Lowes $8300 Tjmaxx $5000 Cap1 $14750 venture $25500 jetBlue $21000 pier1 $5000 Amex $10000x2 AMEX $21,000 BoA$8000 CitiDC$8000




Message 26 of 26
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