Please explain Ch. 13

[Worried]

On your CR should all debt say "discharged in bankruptcy" right after it is filed even though we are still paying on the debt for 5 years? Or do we wait the five years to start cleaning up our CR?

I have heard when you are in a Ch. 13 you can not pay your mortagage payment in the grace period, it has to be by the 1st or they start foreclosure right away, is that true??

This may sound like a stupid question, but does paying your Ch. 13 payment every month on time go on you CR as a good thing?

If someone has filed 13 please give me advice on how this all works.

Thanks,

Worried

[LadynRed]

I have heard when you are in a Ch. 13 you can not pay your mortagage payment in the grace period, it has to be by the 1st or they start foreclosure right away, is that true??

They can't start ANY forclosure action w/o first filing for a relief from the automatic stay. What you've heard is wrong, but you do have to keep making your payments on time. Best not to fuss with the so-called 'grace period' anyway.

On your CR should all debt say "discharged in bankruptcy" right after it is filed even though we are still paying on the debt for 5 years? Or do we wait the five years to start cleaning up our CR?

No, what it SHOULD say is 'included in bankruptcy' and in the case of a Ch13 may be noted as 'wage earner plan'. There's no particular reason you can't dispute anything that isn't reporting correctly before your plan is done.

but does paying your Ch. 13 payment every month on time go on you CR as a good thing?

Your payments should be reported, yes, and as long as you're current that's in your favor, but it will still show as being in bankruptcy - which is negative.