Payments to creditors

[bankruptbull]

I notice on my case that ever since the trustee has started receiving payments she has taken her percentage. The rest of the money is just building up. I am curious, after a case is confirmed, when do they start paying creditors? Do they have to wait until the deadline for creditors to file? Thanks!

[lvmilizia]

On mine once the case was confirmed the trustee paid out all funds that had build up, which was about a year and half worth of payment, and now pay everything out each month as they receive it. I am in AZ.

[PatG]

On mine once the case was confirmed the trustee paid out all funds that had build up, which was about a year and half worth of payment, and now pay everything out each month as they receive it. I am in AZ.

Same with ours. Ours took 11 months to confirm.

[bankruptbull]

Thanks for the updates. Since I was recently confirmed, I still can not believe I got confirmed that fast, I guess they will start paying out soon.

[lvmilizia]

Yeah ours pays on like the 28th each month, so if you were just confirmed this month, they may not pay until the end of the month.

[lukesky]

On mine once the case was confirmed the trustee paid out all funds that had build up, which was about a year and half worth of payment, and now pay everything out each month as they receive it. I am in AZ.

Did it take you a year and a half for your case to be confirmed? I thought it was in about a month after the 341 creditors meeting.

[lvmilizia]

Yes it took a year and a half to be confirmed, I don't think that is normal. Somehow there was an outstanding item, that the trustee though they needed but my attorney had already sent it. After a year and a half I got my attorney to look in to why I was still waiting for confirmation, and once they called the trustees office I was confirmed within the week. In AZ it does not really matter as the 60 Months starts when you file not once you confirm. I guess in some places the 60 months does not start until you confirm if that had been the case I would of been all over it a few months in.

[lukesky]

Same with ours. Ours took 11 months to confirm.

I do not understand this, I thought the courts also where under a time limit. Almost a year is obsured. I am still waiting for my payment plan confirmation and my lawyer tells me it should be in about 5-6 weeks from now. My 341 meeting was 9/13/2016 and if I find out he is lying to me....I am not sure what I would do. It seems that it should be against the law to tourture someone like that.

[lvmilizia]

I am sure your attorney is not lying to you, I sure you will know in 5-6 weeks. Like I said mine was just a over site that is why it took so long. The best thing to do is to keep making your payments, and know it will all work out. Also stop worrying about lending club, you are protected by the court right now, so anything they do has to go to the court, and if they have not filed a objection, you should be good. I don't know how long they have to be able to object, but I would think there time is running out.

[lukesky]

I am sure your attorney is not lying to you, I sure you will know in 5-6 weeks. Like I said mine was just a over site that is why it took so long. The best thing to do is to keep making your payments, and know it will all work out. Also stop worrying about lending club, you are protected by the court right now, so anything they do has to go to the court, and if they have not filed a objection, you should be good. I don't know how long they have to be able to object, but I would think there time is running out.

Thank you Ivmilizia, I appreciate that.

[bankruptbull]

Just an update - looked on NDC this morning and payments have started going out. Everything that had been built up until this point went to my attorney and she is still owed some. I guess after she is paid in full money will start going to the creditors next. I didn't have too many creditors file initially, but after my confirmation date just about all of them have filed except for American Express.