I’ve neglected to post for so long! Well,  this post may be lacking excitement, but not for the lack of progress. Here I am — Month 46. Fourteen months to go. My sights are set on the future now instead of the past or even drowning in the current thoughts of not seeing the light at the end of the tunnel. I’m starting to see some brightness shine through!

We would really like to refinance our home to get a better interest rate, so I’ve been doing a lot of research on if and when and how you can do that while in a Chapter 13. I’ve learned that it is possible, and all banks have different standards.   You absolutely have to be in good standing with your payments to the Trustee. In fact, some banks require the last 12 months payments not to be one day late to the Trustee.  What I’ve learned is what is not late to a trustee (7 days late) may be considered late to a financial institution. Some things you learn as you go. My payments have not always been posted by the Trustee by the due date — maybe it was a day later, maybe two days later. What may not have mattered to the court now matters to a bank if you want to use their credit. I may have to wait for another 12 months to refinance, we shall see.   The moral of the story is to pay in advance of your due date to the trustee, because it may matter down the line.

Things are good. Cut backs are difficult to make the plan work, but somehow it works! Make your payment each month, and you will be fine.