Plan amended by Trustee after 341 meeting

[5yrplan]

The Trustee raised my plan $175 a month because of home equity and assesst. Should I catch up the difference on the 2 payments I've already made?
TIA

[sophieanne]

Hi...do you have an attorney you could ask that question of? Are you ok with the change? (eg., were you sort of expecting it?)

[5yrplan]

My Attorney was confident in getting the plan confirmed as it was. This was totally unecpected. I don't mind the increase that much because my brother is a creditor and his amount is about 45% of my creditor claims thus far. I'm concerned that the new plan payment will attract more claim filings. I filed on March 6 2017.

[sophieanne]

Jo agaom//we;; as ;mg as your fine htat's the main thing. I really don't think the new amount will attract more claims. I think either the creditor is going to file or not. What date do they have to make claims by?

[5yrplan]

What date do they have to make claims by? Good Question. Will the creditors all get sent the plan admendment then will the countdown to file a claim restart? Do non government creditors only have 90 days from fililng to make a claim? 341 was on 4-25-17so it's only been 2 weeks which won't change much, Thanks.

[sophieanne]

That's a good question - I'm not sure what happens in the case of a modification. Perhaps a moderator, eg. justbroke could respond.

[switch625]

The deadline for filing a proof of claim for non-governmental creditors in a Chapter 7 or Chapter 13 bankruptcy case is 90 days after the first meeting of the creditors (341 meeting). I believe all your creditors are sent the amended Ch 13 plan showing the adjusted plan amount.

I would ask your attorney when to submit the increased payment. I believe that you would not start on the new and now increased plan payment until after confirmation.

[LadyInTheRed]

I think switch625 is correct.

Keep in mind that the trustee did not change your plan. You present a plan and the judge decides whether to confirm it after considering any objections. The trustee can object to your plan and tell you what would make him/her drop the objection. You decide whether to modify the plan to satisfy the trustee or to let the judge decide. It sounds like your trustee believes your plan did not adequately compensate unsecured creditors for your non exempt assets. This could be a mathematical issue based on the values of asset on your petition, or your trustee may disagree with values or your exemption claims. If your plan has already been modified, it is either because your attorney agreed to the modification on your behalf or the judge decided the the trustee was correct and confirmed a modified plan.

Creditors hire attorneys to file BK claims. Attorneys in all areas of law tend to file things close to deadlines because they are busy and prioritize their workloads based on court deadlines. So, be prepared for last minute filings, regardless of any modification.

[5yrplan]

Yes that is how it went. The trustee sent an objection to the calulations so my Attorney is amending the plan to cover the calculation difference of the plan not paying back as much as a chapter 7 would've. In my letter from my Attorney he said to pay the new amount beginning in June (payment 3/60). I like to check on claims filings to see how much of the plan will be going to my brother for my 5 yr. budget. Thanks