Personal Bankruptcy Chapter 13 bankruptcy

[rdrountree]

I have been trying to get an answer to a question about our bankruptcy and even our attorney doesn't answer. We are over 3 years into a chapter 13 where we are supposed to pay $720 per month for 57 months. We have a base of $40,010 to pay which was figured at the time we scheduled. However, over half of our creditors did not file and the amount we are supposed to pay is well over 100%of what we owe on all of the remaining creditors that did file. We were told that we had to pay 100% of all the secured and 3% to unsecured. What happened to this deal? Anyway, my main question , is there ever a chapter 13 discharged early if so many of the creditors did not file? We are having a hard time paying th $720 per month and my husband needs to change jobs. What if anything can we do? Does it make since to convert to a chapter 7 at this point? Can we even do that if my husband has a job? It seems that the law protects those people who are sitting at home on their buts, but the ones out working and trying to pay their bills get stuck. Can anyone help with this question? Thanks.

 

[Theresagail]

You need to talk to your bankruptcy attorney and see about converting to the chapter 7 -- I dont think they will lower your payments but they could-- your payments should have been based on all the creditors who did file a claim with in the time limit

 

[rdrountree]

Our payment was determined by what our income was at the time and what our expences were. They subtracted expences from income and the difference was what they said we could pay. It had nothing to do with the creditors that filed. This was determined before the creditors were even notified. Our income has not gone up in three years but our expences have. At this point we have paid 100% to all our secured and priorty creditors that filed and about 25 - 30% of the few remaining unsecured debts. We are wondering why we filed bankruptcy as we are paying 100% of everything. We could have done this on our own and been finished by now. Our attorney says there is nothing we can do but finish the plan. He is finished with us since he has been paid already. If we convert to a chapter 7, how does this affect our credit at this point? Would it be better to just stick it out and finish the plan. We need to help our son with college expences and can't because of this monthly payment. Isn't there anything we can do?