So, $145,000 in yearly W2 income but $170,000 overall AGI last year due to some stock cash-outs. Atty says 100% payoff plan in chapter 13 is $3,014 a month. The percentage Chapter 13 plan is $3,200 a month.
We need new cars. He won't discuss us taking on any additional debt, including the cars. So, we can't see how buying cars would affect the percentage plan. The consensus on reddit, based on what I've read here, seems to be buy cars now and do the percentage plan because it will lower the payback amount. The credit card companies would not get paid back 100% and I would still have about the same cashflow each month, and I would have new, reliable transportation. I've spent about $3,000 on car repairs so far this year.
What do I do if my attorney won't even discuss the idea of newer vehicles (aka additional debt)? He said he can get int rouble for that. how can he advise me on the best choices for my family is he can't discuss theorhetical scenerios? I'm thinking about changing lawyers.
Thoughts? 100% plan or do the cars with a % plan, or change lawyers, or what? I feel like if I go with his recommended 100% plan and don't buy cars, I will be screwed trying to upgrade cars in a couple of years. My current car has 155,000 miles and drives and hour back and forth to work each day at 85mph. My wife's car is right behind mine in mileage and commute.
edit: currently current on all balances, but won't be able to carry it longer. Filing Chapter 13 before things get worse.