Trustee’s Periodic Report to Debtor

[crazytimes]

Hi all,

I received the trustee’s periodic report and below is what was on the report. I still have four months of monthly payments of $1,220 and the trustee just received $2,500 for my escrow over payment and NDC shows I have paid over $68,000 into the plan. Am I over paying or what is going on? My attorney is contacting then trustee to get an answer.

The periodic report states the balance to pay the creditors IN FULL is now $59,624.64, giving credit for funds on hand in this case which is $11.00 as of end of March 22.

The plan obligates me to pay the minimum which is the base. This amount is established at $65,416.00. At this time, I have paid a total of $65,000. Thus the balance on my base is $416.00. My plan obligates me to pay the lesser of this balance or the approximate 100% balance indicated above.

This statement was as of end of month March and since then there has been an April payment and a payment of over $2,500 for escrow refund. There are also 4 more payments of $1,220. NDC now shows payments exceeding $68,000.

sorry I may have repeated myself so hope this is not confusing.

[justbroke]

The only way is to have the Trustee answer that question. Generally speaking, most Trustee will take "extra" money and just add it into the Plan Base. They do this for plans that don't propose to, or won't, pay 100% to the general unsecured creditors. Since you say this should put you over the Plan Base for a 100% plan, that will definitely be a question for the Trustee. The Chapter 13 Trustee must determine if it's actually 100% paid based on the allowed unsecured claims.

[crazytimes]

The only way is to have the Trustee answer that question. Generally speaking, most Trustee will take "extra" money and just add it into the Plan Base. They do this for plans that don't propose to, or will, pay 100% to the general unsecured creditors. Since you say this should put you over the Plan Base for a 100% plan, that will definitely be a question for the Trustee. The Chapter 13 Trustee must determine if it's actually 100% paid based on the allowed unsecured claims.

Thanks justbroke. Will wait and see what the trustee comes back with. I just need to remember only 4 more payments and the 60 months is complete.

[crazytimes]

Finally received an answer back from my attorney. She said she was just been able to speak with his office administrator and my file is in the closing department. She is going to remove it temporarily in order to send my employer a letter indicating that the plan has been completed and to stop garnishing my pay. Then she said it will go back into closing. I will get back what was taken out over the plan base which to date is over $2,000 plus she will be sending back the escrow amount of $2,500 that my mortgage company sent them for overpayment of escrow. She does not know the exact time but I would think it will be after everything is closed. Appears my payments to the trustee are done since I over paid. My last payment was supposed to be in August.