Questions for Florida chapter 13

[eap82]

Hi. I have 2 questions specifically for Florida chapter 13 filers and didn’t see them anywhere else.

1) I have savings. Not enough to pay my debt or I would just do so but enough for emergencies. Will I have to surrender my savings when I file chapter 13 like I would in a chapter 7?

2) If my house and car are current do I have to include them in my chapter 13? I’m told there is a maximum payment amount of $1850 (at least in Hillsborough county there is). Would my house and car be included in that number or in addition to?

thanks all 🙂

[eap82]

Wrong section, I’m reposting it. Sorry!

[justbroke]

1) I have savings. Not enough to pay my debt or I would just do so but enough for emergencies. Will I have to surrender my savings when I file chapter 13 like I would in a chapter 7?

Not in a Chapter 13. A Chapter 13 is designed for the debtor to keep all the property that they choose to keep. For non-exempt money in savings accounts, this would just become part of what they call the "Chapter 7 liquidation test" (a/k/a the best interest of creditors test). That means that you have to pay the unsecured creditors at least as much as they would have received had you filed Chapter 7 and your estate was liquidated.

2) If my house and car are current do I have to include them in my chapter 13? I’m told there is a maximum payment amount of $1850 (at least in Hillsborough county there is). Would my house and car be included in that number or in addition to?

It depends on the Chapter 13 Trustee, but generally you will need to ask to keep the payments "outside the plan." (While the payments are technically "included" in the plan, you want to make payments outside the plan.) This is allowed in Florida, but you may need to ask permission to do so. Just make sure your attorney keeps your payments outside the plan.

As for a "maximum" payment of $1,850 I do not know to what you are referring. There are presumptively allowed expenses as part of the United States Trustee Program (USTP) related to certain expenses. These expenses are by area of the country or county... and some are national expenses. You can find the current (or past) guidelines on the USTP Means Testing website at https://www.justice.gov/ust/means-testing

Please take note, for those lurking, that payments outside the plan are only allowed, in Florida, if you are current at the time of filing.