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"what are your payments, ch 13,"

Credit-Addict
Regular Contributor

Re: "what are your payments, ch 13,"

How did you pay it off early?  I was told that once you get in thats it.. What happened to you student loans. I also read that is one thing that is hard to rmove in a bankruptcy.

Message 11 of 18
Credit-Addict
Regular Contributor

Re: "what are your payments, ch 13,"

I am also thinking that. I have just been anxious ever since I set up the consultaion. 

Message 12 of 18
Credit-Addict
Regular Contributor

Re: "what are your payments, ch 13,"

I cant afford the 1500 up front thats my only problem. 

Message 13 of 18
SteelerNYC
Valued Contributor

Re: "what are your payments, ch 13,"


@Credit-Addict wrote:

I cant afford the 1500 up front thats my only problem. 


in filing a chapter 7?

 

if so, you need to figure that out. Not paying your bills should hopefully be freeing up some money. my attorney was 3 grand and it was crazy how fast you can cobble it together when the need is pressing.

 

repaying thousands of dollars in a Ch 13 because you don't have $1500 now would be ridiculous.

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU More Rewards Amex/NFCU Platinum/PenFed Power Cash Rewards/PenFed Pathfinder Visa/Citi Costco Visa/CapitalOne SavorOne/Apple Card - $139,100 total revolving, 21% utilization
3.25% mortgage July 2020, $20k used Auto Loan October 2020, $20k PenFed Personal Loan Dec 2020
687/683/673 EX/EQ/TU w/ 5/6/6 INQs as of Jan 2021
Spending 2021 in the Garden
Message 14 of 18
VoltaicShock
Established Contributor

Re: "what are your payments, ch 13,"


@SteelerNYC wrote:

@Credit-Addict wrote:

I cant afford the 1500 up front thats my only problem. 


in filing a chapter 7?

 

if so, you need to figure that out. Not paying your bills should hopefully be freeing up some money. my attorney was 3 grand and it was crazy how fast you can cobble it together when the need is pressing.

 

repaying thousands of dollars in a Ch 13 because you don't have $1500 now would be ridiculous.


So for mine some of the attorney fees were apart of the Chapter 13.  Not sure how that worked but nobody complained.  I had to pay him some outside the plan too.

 

As you said if you are filing just stop paying your bills and use that money to pay the attorney.  The only issue is that if the Chapter 7 or 13 doens't work out then you are even further in debt and could have used that money to help pay your creditors.



FICOBeginning (6/2017)Current
Equifax636707
Transunion627725

Experian623726
Message 15 of 18
SteelerNYC
Valued Contributor

Re: "what are your payments, ch 13,"


@VoltaicShock wrote:

@SteelerNYC wrote:

@Credit-Addict wrote:

I cant afford the 1500 up front thats my only problem. 


in filing a chapter 7?

 

if so, you need to figure that out. Not paying your bills should hopefully be freeing up some money. my attorney was 3 grand and it was crazy how fast you can cobble it together when the need is pressing.

 

repaying thousands of dollars in a Ch 13 because you don't have $1500 now would be ridiculous.


So for mine some of the attorney fees were apart of the Chapter 13.  Not sure how that worked but nobody complained.  I had to pay him some outside the plan too.

 

As you said if you are filing just stop paying your bills and use that money to pay the attorney.  The only issue is that if the Chapter 7 or 13 doens't work out then you are even further in debt and could have used that money to help pay your creditors.


This is standard for a 13 as far as I know.

 

I've heard of some 7 attorneys doing payment arrangements. Mine didn't because he said my bankruptcy would technically discharge any unpaid amounts I still owed! We did the prep work on my 7 as I was paying him off and he filed when I made my last payment.

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU More Rewards Amex/NFCU Platinum/PenFed Power Cash Rewards/PenFed Pathfinder Visa/Citi Costco Visa/CapitalOne SavorOne/Apple Card - $139,100 total revolving, 21% utilization
3.25% mortgage July 2020, $20k used Auto Loan October 2020, $20k PenFed Personal Loan Dec 2020
687/683/673 EX/EQ/TU w/ 5/6/6 INQs as of Jan 2021
Spending 2021 in the Garden
Message 16 of 18
juniebrunner
Established Contributor

Re: "what are your payments, ch 13,"


@Credit-Addict wrote:

How did you pay it off early?  I was told that once you get in thats it.. What happened to you student loans. I also read that is one thing that is hard to rmove in a bankruptcy.


The student loans were paid off through the plan.  I owed interest after I was discharged though.  Paying that off now through Navient.  I was in a 13 as you mentioned...they didnt get removed, they got PAID as I PAID the trustee, he paid my debts.  I paid it off early is how I paid it off.  I kept checking to see how close I was and then just paid it off.  Called the trustee, asked how much to payoff right now?  Done.

Message 17 of 18
VoltaicShock
Established Contributor

Re: "what are your payments, ch 13,"


@SteelerNYC wrote:

@VoltaicShock wrote:

@SteelerNYC wrote:

@Credit-Addict wrote:

I cant afford the 1500 up front thats my only problem. 


in filing a chapter 7?

 

if so, you need to figure that out. Not paying your bills should hopefully be freeing up some money. my attorney was 3 grand and it was crazy how fast you can cobble it together when the need is pressing.

 

repaying thousands of dollars in a Ch 13 because you don't have $1500 now would be ridiculous.


So for mine some of the attorney fees were apart of the Chapter 13.  Not sure how that worked but nobody complained.  I had to pay him some outside the plan too.

 

As you said if you are filing just stop paying your bills and use that money to pay the attorney.  The only issue is that if the Chapter 7 or 13 doens't work out then you are even further in debt and could have used that money to help pay your creditors.


This is standard for a 13 as far as I know.

 

I've heard of some 7 attorneys doing payment arrangements. Mine didn't because he said my bankruptcy would technically discharge any unpaid amounts I still owed! We did the prep work on my 7 as I was paying him off and he filed when I made my last payment.


Correct.  I forgot they do treat each one differently.



FICOBeginning (6/2017)Current
Equifax636707
Transunion627725

Experian623726
Message 18 of 18
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