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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I am trying to decide if filing chapter 13 or a debt consolidation

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I am trying to decide if filing chapter 13 or a debt consolidation program is best for my family. i have several questions.
# XXXXX Are payments usually less filing ch 13 than debt consolidation programs. My understanding is debt consolidation programs really just decrease interest where as ch 13 decreases interest and can reduce principle. #2 Do most lawyers allow there fee to be calculated into the monthly payment? # XXXXX I am an RN and have the opportunity to pick up another PRN job or OT. If I file Chapter 13 and it is approved and I start making my payments to the trustee will I have to give the trustee my extra earnings from the PRN job or OT?
Thanks!
Welcome to JustAnswer,

So sorry to hear of this dilemma. I am a Florida attorney. If my answer is not clear to you, please ask me for clarification by using the reply button.

# XXXXX Are payments usually less filing ch 13 than debt consolidation programs. My understanding is debt consolidation programs really just decrease interest where as ch 13 decreases interest and can reduce principle.
Unfortunately this is an impossible question to answer. A chapter 13 requires contribution of all disposable income to the chapter 13 plan. A debt consolidation requires the voluntary corporation of the creditors and may be more or less than the amount that would be payable in a chapter 13 plan



#2 Do most lawyers allow there fee to be calculated into the monthly payment?
yes

# XXXXX I am an RN and have the opportunity to pick up another PRN job or OT. If I file Chapter 13 and it is approved and I start making my payments to the trustee will I have to give the trustee my extra earnings from the PRN job or OT?
yes

The main benefit of a chapter 13 over a debt consolidation is that at the end of the chapter 13 payment plan (3-5 years) the remaining debt is forgiven


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Customer: replied 6 years ago.
Thank you for your response!
So since all disposable income is to be used in Chapter 13 do they give you enough to pay for things like an unforeseen expense or a little money to save for these unforeseen expenses. Or for instance clothing, cell phones, ect. Things that are not necessary. Also, if in the future I have another child will they lessen what I pay so that I can pay daycare......or if my income were to decrease.
Thanks!
Yes the chapter 13 plan is subject to modification for unforeseen expenses and/or changes in income
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