Do I hear a 79...going once...going twice!

iVillage Member
Registered: 10-01-2008
Do I hear a 79...going once...going twice!
10
Thu, 08-16-2012 - 10:04am

Another week flies by for me and DH in our Chapter 13 bankruptcy payments.  I have to admit I really get bummed out sometimes, pinching dollars since we have to make these hugh payments of $518 a week.  But we did it to ourselves. 

I would like to pass on the lesson learned from getting too deep in debt and thinking that your job will never end.  They can end, even if you are the top sales person in the company.  Never, never get use to living on credit.  It will bit you in the butt every time.

DH & I are being to discuss a lot about what our plans are when we make the last payment.  He had suggested that he wanted one credit card for emergencies.  I've got him talked out of that.....for now any way.  I told him he simply needed to add to the debt card account he opened for his expense checks.  That way we are never in debt, only using our money and the card is accepted as a VISA anywhere.  We don't need a credit card to rebuild our credit.  We have a mortgage payment that is doing just that.

79 .....do I hear a 78 for the next week?

 

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 04-08-2008
Fri, 08-17-2012 - 6:58pm
I agree - I hope you stay healthy this year too :smileyhappy:

Yes, I have noticed that time is flying when you look at the weeks, lol.

I think it is very silly that can keep bonuses but not raises. It should be both really - you are doing the right thing here. And as you point out inflation is still rolling along!

Dee
Community Leader
Registered: 08-25-2006
Fri, 08-17-2012 - 5:03pm
I love that you can count down so quickly by weeks, instead of months.

My raise I just got was the first since 2004, and that was only because I got divorced and health insurance premiums went down significantly.

I stopped getting raises, vacation or sick time when I went to part time after the birth of my 3rd child 12 years ago. But I still get full health, dental and retirement.

So yea, I hear you. Grateful for the insurance and retirement, but boy inflation will eat you up.
Serenity
iVillage Member
Registered: 04-16-2008
Fri, 08-17-2012 - 10:38am

If anyone can do it, it is you, Norma!  Hope both you and DH stay healthy and the next 79 weeks be uneventful.

iVillage Member
Registered: 10-01-2008
Fri, 08-17-2012 - 8:53am

YES, $518 a week is a big A$$ payment!  All of the security debt, car, truck, & tractor are paid at 100% of the original debt.  All unsecured debt will be paid back at somewhere between 70 - 100%.  It depends upon how much of DH's bonus money they keep at the Trustee's office.  We ask to keep this years bonus of $2242.00 and they let us keep it for dental & medical bills since I had a pacemaker put in last year and lot's of health problems.  One thing that sort of erks us is that DH's employer will not give him a salary raise.  They expect him to make bonus money for that purpose.  The court said he is allowed salary raises, but they are entitled to all bonus money.  So in other words, he has not seen an increase in payroll since August 2009.  I got a 2% raise this year, my first in six years.  So we are try to pay higher living expense on practically the same salary.

BUT, I only need to survive 79 more weeks!!!!  We CAN do it!

 

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 04-08-2008
Fri, 08-17-2012 - 1:40am

$518/week is a LOT of money. That is going to be fantastic when it is all yours again. Good for you, you are actually paying this off. (is that the diff between chapter 13 and 7? I'm Canadian so I'm just curious)

Dee

iVillage Member
Registered: 03-27-2005
Thu, 08-16-2012 - 7:16pm

Way to go!

stacy

iVillage Member
Registered: 10-09-1999
Thu, 08-16-2012 - 3:25pm

You are getting there...79 is a nice #....going down down down!!

cindylee

iVillage Member
Registered: 12-31-2010
Thu, 08-16-2012 - 3:06pm
Wow, less than 80 now, I am so happy for you Norma!!
#Marie
iVillage Member
Registered: 11-14-2008
Thu, 08-16-2012 - 10:27am

I'm doing an awkward 79 dance for you Norma! So happy for you!

Glad you have hubby talked out of a CC. 

Love to hear of your plans for the end of the count down!