MasConcepts Incorporated

(Michigan)
So, I entered Chapter 13 bankruptcy about 7 months ago, though I’d contemplated it for about a year before. Going in, the lawyer indicated our payments would be around $800 a month for both my wife and me. I make about $101K a year, she makes around $50K.

I did understand that as some initial loans were paid off, that freed-up income would then roll into the bankruptcy plan, ultimately raising the payment. Now it’s set to climb up to about $1,250 a month, and then in about a year go to $1,700 a month and that’ll last for around 3 or 4 years—basically double what I was initially told.

I agreed to it, knowing it would be tight—but now, 7 months in, I just feel completely demoralized. I make over $100K at a decent corporate job, and yet I feel broke. I’m really feeling the pinch, and I need some encouragement or advice. At this point, I’m even contemplating stopping the Chapter 13 altogether. I just don’t know what to do.

Also, 7 months in and only the lawyer has received funds from my payments as I have a MetLife legal plan which I understand payed attorney fees however apparently the lawyer gets paid on the backend first from my payments to the trustee. About 1 more month of that to the lawyer. Also wondering if I was duped by the lawyer in that case in accordance to my legal plan. There was a petition for lawyer payment I received which I didn’t object to at that time assuming it was proper.