Posted on: 26th Jun, 2006 04:10 pm
Hi all,
I am under chapter 13 for more than two years now. Each month my payment towards it is $1500. It's becoming increasingly difficult to meet with the payments. Our family is deprived of the minimum requirements for entertainment. It's painful to see their faces when I know I am unable to buy them anything now they want. I just want to get out of this. What consequences will be there for us if I come out of the chapter 13?
I am under chapter 13 for more than two years now. Each month my payment towards it is $1500. It's becoming increasingly difficult to meet with the payments. Our family is deprived of the minimum requirements for entertainment. It's painful to see their faces when I know I am unable to buy them anything now they want. I just want to get out of this. What consequences will be there for us if I come out of the chapter 13?
Jane,
Think of it twice before you take any such decision. The automatic stay will be lifted and again you owe everything with interest.
Steve
Think of it twice before you take any such decision. The automatic stay will be lifted and again you owe everything with interest.
Steve
But I don't see any alternative. It's difficult stay in the room and face my family.
hi jane,
welcome to mortgagefit forums.
you can have your case dismissed at any point of time as most of the chapter 13 bankruptcy cases are voluntary. but it should be your last plan after you have tried out all possible means.
i went through similar situations and know the difficulty in keeping up with the payments and meeting household needs at the same time. somehow it ended. it was a three year plan. how much is yours? is it 3 years or 5 years? if it 3 year plan then you have crossed the major part of it and only a few months more and you will be out.
even if it is a 5 year plan i shall suggest you to manage somehow. i know it's difficult but once you come out of the plan in the middle again you have to face the creditors which will be difficult too to tackle.
why do you feel your payment plan is not at all comfortable for you? was it from the beginning or later it became unaffordable with the hike in prices of commodities. chapter 13 is not meant to push people into poverty. contact your attorney and try to submit a modified plan to reduce your payments.
i can feel for you and may be more as i went through a similar situation. in the mean time if it possible try and manage some added funds from your friends and relatives. believe me, days will pass by soon. only just for a while you have to keep your mental strength and fight out your other options.
god bless you.
for mortgagefit,
samantha
welcome to mortgagefit forums.
you can have your case dismissed at any point of time as most of the chapter 13 bankruptcy cases are voluntary. but it should be your last plan after you have tried out all possible means.
i went through similar situations and know the difficulty in keeping up with the payments and meeting household needs at the same time. somehow it ended. it was a three year plan. how much is yours? is it 3 years or 5 years? if it 3 year plan then you have crossed the major part of it and only a few months more and you will be out.
even if it is a 5 year plan i shall suggest you to manage somehow. i know it's difficult but once you come out of the plan in the middle again you have to face the creditors which will be difficult too to tackle.
why do you feel your payment plan is not at all comfortable for you? was it from the beginning or later it became unaffordable with the hike in prices of commodities. chapter 13 is not meant to push people into poverty. contact your attorney and try to submit a modified plan to reduce your payments.
i can feel for you and may be more as i went through a similar situation. in the mean time if it possible try and manage some added funds from your friends and relatives. believe me, days will pass by soon. only just for a while you have to keep your mental strength and fight out your other options.
god bless you.
for mortgagefit,
samantha
Hi Jane,
I shall too suggest you to hang in there and don't let the creditors put you in trouble again. You may face judgments, garnishments etc. and life will be miserable.
I know it's hard to stick to it but as Samantha suggested try to submit a modification plan. It's just a matter of a few more months. Try to manage somehow and don't dismiss your bankruptcy.
We are with you.
Good Luck,
Blue
I shall too suggest you to hang in there and don't let the creditors put you in trouble again. You may face judgments, garnishments etc. and life will be miserable.
I know it's hard to stick to it but as Samantha suggested try to submit a modification plan. It's just a matter of a few more months. Try to manage somehow and don't dismiss your bankruptcy.
We are with you.
Good Luck,
Blue
this chapter 13 is my husband and i was helping him pay his creditors back he decide that he doesn't want to be in the marriage how do i come out of the chapter 13
Welcome yellow,
If you have jointly filed Chapter 13, then you won't be able to come out of it until it is dismissed. If you've not filed bankruptcy with him, then his bankruptcy filing won't affect you in any way.
If you have jointly filed Chapter 13, then you won't be able to come out of it until it is dismissed. If you've not filed bankruptcy with him, then his bankruptcy filing won't affect you in any way.