Increased Payment Question

[fabala]

Hello all. I filed for Ch 13 in November. My claims date just passed and all my creditors filed a claim. Bummer.

Anyway, my attorney is working on an amended plan, plus she still needs to work out the trustee's objections.

If my monthly payment goes up, my understanding from the attorney is that I will be responsible for the difference between the original and the revised payment. For example, if my payment is now $900 and it increases to $1000, and I've made six payments...I would owe $600.

When this happens, do you have to pay the difference back in one lump sum, or does it get spread out?

I'm in the northern district of Florida, if that makes a difference.

Thanks.

[CindyLou]

just curious, why is your attoreny ammending your plan up?

[lrprn]

When this happens, do you have to pay the difference back in one lump sum, or does it get spread out?

Can't speak for your situation - your lawyer is the authority on what happens in your local court.

However when our Ch 13 payment went up a bit to resolve a trustee objection, the difference between what we had been paying since the beginning of our plan and the new payment amount was spread out through the remaining months of our plan.

Let us know what your lawyer says is going to happen in your case. Good luck!

[poor@budgeting]

I would think that your lawyer & trustee would spread that in 6 months time - so you would be paying $1100 for 6 months instead of $1600 in a month - unless your income/asset shows that you can afford it and your lawyer made incorrect calculation/deductions.

I am guessing that the BK is not yet confirmed?