Chpt 13 over 8/2020, but Inheratance soon..now what?

[sophieanne]

Good luck lukesky - I hope you have the success with your motion. Please let us know what happens.

[justbroke]

Hey justbroke. Well, the Judge did approve the motion to use my inheratance to go to my Chapter 13. I was at a 10% but now I am at 100%. So now the unsecured creditors that where dormant after being paid the 10% are now due for all of their money. So I just gave them over $15,000 and now when I get the 2nd inheratance check maybe around $5,000 it will pay off my Chapter 13 sometime maybe this year. In the meantime I still have to pay what I was paying monthly on my chpt 13 for almost 4 years until then. I have another question; there is plenty enough money now to pay off the only secured creditor in my chapter 13 plan which is my car and I think they come first in payments, do you think I will get my title to my car now right after that is paid?

If you did a cramdown on your car, it is likely that you won't receive the title until sometime after discharge. If you didn't cramdown the car, then the creditor should release the lien sometime after the last payment towards taht debt.

[lukesky]

I have heard of cramdowns justbroke, and thank god none was initiated. I asked my attorney after the trustee gets this, and he has, the inheratance money when will I get my car title, and of course ….dead silence as always. Thank you.

[lukesky]

Hey justbroke, hope you are doing fine. Just a quick note (I know I said this before), I did not do a cramdown. Since then I saw on NDC today that my "Case Status" is "ELIGIBLE FOR AUDIT". Before I submitted to my Trustee (Im in Geneva IL) my inheratance money I was at 10% and only had my secured car to pay off through my chapter 13, today I see that my unsecured creditors have awaking to a 51.80% to be paid. Really not sure what is going on. There is so many numbers at play I see on my NDC account, not sure if it is the computer trying to make sense of everything, are if the Trustee is really doing this. The Trustee does not really send out any payments to my credtiors until around the 11th of every month, so I guess I will just have to wait. Just not sure what the ELIGIBLE FOR AUDIT means. If it is good, bad, are the unknow. Thank you.

[lukesky]

Hey justbroke, hope you are doing fine. Just a quick note (I know I said this before), I did not do a cramdown. Since then I saw on NDC today that my "Case Status" is "ELIGIBLE FOR AUDIT". Before I submitted to my Trustee (Im in Geneva IL) my inheratance money I was at 10% and only had my secured car to pay off through my chapter 13, today I see that my unsecured creditors have awaking to a 51.80% to be paid. Really not sure what is going on. There is so many numbers at play I see on my NDC account, not sure if it is the computer trying to make sense of everything, are if the Trustee is really doing this. The Trustee does not really send out any payments to my credtiors until around the 11th of every month, so I guess I will just have to wait. Just not sure what the ELIGIBLE FOR AUDIT means. If it is good, bad, are the unknow. Thank you.

[justbroke]

Usually the eligible for audit means that the case is nearing or at completion. Some of the numbers on NDC are hard to decipher and are really for the Trustee's purposes. I never use the "percentage" amounts in NDC as that's some sort of voodoo calculation. I do look at the amount paid to creditors, amount paid to Trustee, and the plan base.

[lukesky]

Hey justbroke and everyone. I just wanted to give an update on my long running chapter 13 (was 10% now it is 52.38%) that started 8/16/2016. My parents passed away 7 months apart recently and their estate is in Probate until the end of the year. I gave almost all of my inheratance (court order) to the chapter 13 Trustee. Even with that my only secured creditor, my car, still has two hundred dollars left to be paid off. He was supposed to pay it off last month (another court/judge order) but somehow the numbers and % said no, but it should be paid off next month. My unsecured creditors that where in limbo for years got a big win fall will my inheritance and rightfully so. Now, since my parents estate is in limbo until the end of the year so is my chapter 13 until the exuctor of my parents estate has all of the bills paid and the rest is divide by 3, my siblings and me, and then my share (selling of the house) will go to my chapter 13 trustee and just maybe I will get something for me around the end of this year. At least I do not have to pay anymore monies into my chapter 13...just waiting to see what happens at the end of this year. Thank you for being there.

[lukesky]

Hey justbroke and everyone. I just wanted to give an update on my long running chapter 13 (was 10% now it is 52.38%) that started 8/16/2016. My parents passed away 7 months apart recently and their estate is in Probate until the end of the year. I gave almost all of my inheratance (court order) to the chapter 13 Trustee. Even with that my only secured creditor, my car, still has two hundred dollars left to be paid off. He was supposed to pay it off last month (another court/judge order) but somehow the numbers and % said no, but it should be paid off next month. My unsecured creditors that where in limbo for years got a big win fall will my inheritance and rightfully so. Now, since my parents estate is in limbo until the end of the year so is my chapter 13 until the exuctor of my parents estate has all of the bills paid and the rest is divide by 3, my siblings and me, and then my share (selling of the house) will go to my chapter 13 trustee and just maybe I will get something for me around the end of this year. At least I do not have to pay anymore monies into my chapter 13...just waiting to see what happens at the end of this year. Thank you for being there.

[lukesky]

Hey justbroke and everyone. I just wanted to give an update on my long running chapter 13 (was 10% now it is 52.38%) that started 8/16/2016. My parents passed away 7 months apart recently and their estate is in Probate until the end of the year. I gave almost all of my inheratance (court order) to the chapter 13 Trustee. Even with that my only secured creditor, my car, still has two hundred dollars left to be paid off. He was supposed to pay it off last month (another court/judge order) but somehow the numbers and % said no, but it should be paid off next month. My unsecured creditors that where in limbo for years got a big win fall will my inheritance and rightfully so. Now, since my parents estate is in limbo until the end of the year so is my chapter 13 until the exuctor of my parents estate has all of the bills paid and the rest is divide by 3, my siblings and me, and then my share (selling of the house) will go to my chapter 13 trustee and just maybe I will get something for me around the end of this year. At least I do not have to pay anymore monies into my chapter 13...just waiting to see what happens at the end of this year. Thank you for being there.

[shipo]

lukesky, thanks for the update; it sounds like the silver lining to all of your hardship is your earned monies are now yours from here on in and your Chapter 13 will end shy of the full 60 months, and this in turn will allow you to start rebuilding your credit a bit sooner.

Keep us posted.

[lukesky]

Hi shipo and thank you. No, actually, there is still the selling of the house inheratance monies when it is out of probate towards the end of this year. Then if monies are left out of all my parents bills then that money is divieded three ways and my share will go to my chapter 13 trustee and then what is left out of that if any will go to me at the end of this year. The chapter 13 was only supposed to be 36 months so it is going to be and is alot longer.

[bkandhappy]

lukesky The end goal is to get that chapter 13 done and over and move on. Timing was horrible but it is what it is. GL

[lukesky]

That is so right and thank you bkandhappy.

[Carmella]

Sorry to hear about the loss of your parents, I lost mine many years ago. At least the BK will be over and you can move on. The timing stinks, but it's out of your control Try to focus on the future of being debt free and having BK in the past.

[lukesky]

Thank you Carmella for your kind words.