Whew! Close one!

iVillage Member
Registered: 10-01-2008
Whew! Close one!
4
Thu, 12-19-2013 - 12:55pm

We'll I got paid....Only 9 more weeks to go.  We've already been told the next check will be a day late. Paws crossed I see the other 9 checks.  But no need to worry, we can squeak by if I get laid off.  I just really would like to finish up these big chunky payments first. 

9.45 weeks X $518.00 = $4,895

Close but yet so far!

Community Leader
Registered: 07-26-1999
Fri, 12-20-2013 - 10:21am
Things may have changed then, if all the secured and priority claims are paid off, and those disbursements are always first, then if its just unsecured claims being paid they are more lax about letting a BK finish out early in the case of a job loss as long as the unsecured creditors were paid the minimum percentage, which when I was doing it was 10%. We had a few instances of it when I was doing it, but obviously if your attorney says no, then I would go by what they say. You and DH are strong and this is the last holiday you'll have to go through this, it hopefully will be much more smooth sailing for you when this is all over, and its so close!! I am so excited for you!!
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iVillage Member
Registered: 10-01-2008
Fri, 12-20-2013 - 9:18am

Arryl, the attorney's office said that I could not petition. ????   We owe $800 on the car & $880 on the truck or about 1 1/2 payments left, which winds it up exactly with our last payment in mid February.  We still owe the court $1000.00 which will also wind up with the last payment in February.  

We can do this financially with or without unemployment.  I guess it's just the stress of all the tension at work.  Creditors calling, hearing lies over and over.  I don't do well with tenison and you could cut it with a knife right now because it's so thick!  

I'll get through it, but it's really putting a damper on my holiday spirit.  Home & health wise....we are very happy and this just pulls me down.

iVillage Member
Registered: 05-08-2006
Thu, 12-19-2013 - 10:14pm
Norma, I don't usually post on this board but I do read it...I admire your tenacity and attitude so much. Since you are hoping to stop work when your bk payments are done, it might be a positive thing to be laid off so that you could collect unemployment while you look for a job closer to home and get some much deserved rest. This is one I think you an leave in fate's hands and not worry...Best wishes.
Community Leader
Registered: 07-26-1999
Thu, 12-19-2013 - 4:54pm
Yay for 9 more weeks!!! I know it would be a pain, but if you did get laid off, you could petition the court to stop payments and close out the bankruptcy. You are on your unsecured creditors now as it is and have paid a large percentage, much more than a lot of people do during BK.
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