about to file Chapter 13 question

[5yrplan]

I don't know when I'm filing because my attorney wants to wait for my inheritance to arrive. In the mean time my 1st and 2nd mortgage is current and is getting paid but I'm wondering if I'd be better off not paying them? They will be kept and paid outside of the plan. Thoughts?

[justbroke]

Please consider that in some jurisdictions, you cannot pay a home or car loans "outside the plan" if they were in arrears before filing and the plan is going to cure the arrears. (In some limited cases, the court may still allow this, but in Florida, at least in my District, you must be current and not in arrears to pay outside the plan.)

[5yrplan]

OK thanks.

PS do some put mortgages in plan if planning on keeping the house?

[justbroke]

I would not put a home in plan unless it was required (or you're afraid you won't pay it). in a 0% plan it matters because you pay the Trustee 10% to write checks. For example, at the end of my Chapter 13, I was paying over $7,000 a month through the Trustee to pay 3 creditors. The Trustee was pocketing over $700/month to write 3 checks. (Multiply $700 x 60 and you can quickly see that it was an extremely profitable Chapter 13 for the Trustee! No wonder why she never bothered me about anything.)

But, alas, I had to pay through the Trustee because I was in arrears on my mortgage (because I was initially surrendering this particular investment property).