Curious about Ch 13 Payment Amounts

[anigrrrl2]

Hi there! I am just about to file Ch 13 bk in about a month, as soon as I get the attorney fees together. I have already retained my attorney, who has amazing reviews in my state, and I am happy.

however, my attorney has told me my payment will likely be around $400 a month and that seems really low compared to what it seems like people are paying here. Seems like people are really paying most of what they have left after bills to the trustee, and I’m curious what actual payment amounts look like.

thanks so much!

[justbroke]

Welcome to BKForum!

Each Chapter 13 Plan is truly unique. You could pay very little into the plan from something like only your vehicle payment (because you're in a 0% plan) to thousands (because your home, car, and disposable monthly income (DMI) are all high). My payment was over $7,000/month in my prior Chapter 13.

Generally Chapter 13 debtors pay their DMI plus the payments on their secured debt through the plan. In some districts, secured debt that is not in arrears is not required to be paid through the plan, so debtors pay that directly to the creditor. This may mean that if they have little DMI, then the monthly payment to the Trustee will likewise be low.

[flashoflight]

Hi there! I am just about to file Ch 13 bk in about a month, as soon as I get the attorney fees together. I have already retained my attorney, who has amazing reviews in my state, and I am happy.

however, my attorney has told me my payment will likely be around $400 a month and that seems really low compared to what it seems like people are paying here. Seems like people are really paying most of what they have left after bills to the trustee, and I’m curious what actual payment amounts look like.

thanks so much!

I'm paying less than you as far as trustee payments despite my way over median income. But I have a big mortgage payment, which technically is part of the plan even though it may be paid directly to the bank rather than the trustee. The trustee will ask the mortgage lender to verify that you are not behind at the end prior to giving you your discharge. If you're behind on the mortgage at the end of the 13, that's the same thing as missing trustee payments and just as fatal to your plan.