2017 Club question

[jennm1213]

We filed in Cal in July 2012 we were confirmed Sept 2012. Our plan base is 26,179 and have already paid $23,529 By Feb 2017 with taxes and payments the plan base will be paid off Will they continue taking payments until we hit the 60th payment. ready for this to be over

[lvmilizia]

Only if your plan was paying 100% back, but if your plan was not 100% they will keep going until 60 Months. Your base plan did not included your tax returns if not 100% you will pay over the base plan. Just more money that will go to your unsecured creditors. My plan I have to pay in my bonus each year for the 5 years, so I will end up paying quite a bit over the plan base when we are done since we are not a 100% plan, and the base plan does not include the extra.

[jennm1213]

We are paying 49% back I was just hoping to be done sooner.

[justbroke]

Typically, you must pay for the entire plan period. If you had surrendered any tax refunds, they are just added to the plan base rather than allowing you to end the plan early. Think of the "plan base" as the minimum amount that you are required to pay in a Chapter 13. Most people pay more than the plan base (and mostly due to tax refunds).

[spidge]

I would file your taxes early, Jan or Feb, to determine if you need to surrender a refund or not.

COngrats on making it this far.

[jennm1213]

We turn over our taxes to the trustee and the plan base never changed. We were originally only paying 20% back but it has gone up to 49% I was hoping we could keep next years return my 20 year old car is on its last leg and we have three kids in college