first payment due but paycheck dates not helping

[holding on]

Was told I have 30 days from the date of filing to make first payment. Was also told I have to make my May mortgage payment on-time also. I filed April 30, that means the payment must be at the tennessee trustee box by May 30. Well my 2nd paycheck of the month I get on the 30th, so I can't use that money since I will have had to get a money order for plan payment and send it off before the 30th to get there ontime. So how am I supposed to pay for the mortgage AND plan payment when I will have only one paycheck between now and May 30??? Anybody had this problem for their first payment? Any creative ideas?

[krielly]

Why not send your 13 payment from your first check of the month, and send your mortgage from the check on the 30th.

I assume you have a 10-15 day grace period, as most mortgages do, but again this is just an assumption??

If you pay your mortgage by personal check, then mail it a day or two before the 30th, so it gets there as close as it can to the due date, so you are well within the grace period.........

[imbroke2]

Ditto on the grace period. BUT, did you get your stimulus yet? Why not use that towards your mortgage? Also, why not use pay-by-phone/pay online for the mortgage during the grace period. That way it will definitely be paid within the timeframe.

[holding on]

I guess I may have interpreted what my lawyer said incorrectly. I asked when is my first mortgage payment due, he said 'you would make your first mortgage payment for may'. I took that to mean I have to make a mortgage payment in May and if I don't make a mortgage payment by May 31 I would be 30 days late. I'm waiting for someone from the lender's bankruptcy dept to call me back since the regular customer service dept is totally out of their league for this.

no, I did not get my stimulus and I don't expect to since I have put back taxes in the bk plan. Of course I would use it for the mortgage if I had it.

Thanks for the feedback.

[parsoc48]

This won't help you but maybe others: we elected to file just after the first of the month (April), which meant our first plan payment wasn't due until May 25; we had originally thought about filing by 3/30 but then the bk asst. put this bug in our ear....we took it! Really made a difference, considering how many pay days we had before the plan started. The rule is (at least here) that the first payment is due, not in 30 days from filing, but on the 25th of the next month AFTER filing.

[Flamingo]

I am assuming you get paid bi-weekly or semi-monthly. You don't want to be late with your mortgage or with anything during your Plan. Especially with the first plan payment. Since you will have funds in hand on 5/30, call your attorney, explain the situation, and ask him if the Trustee will accept a payment mailed priority mail (will be postmarked 5/30 and get there in two business days). You will need to try to budget accordingly or see if your attorney can get your trustee to adjust your payment date. Anything is worth a try as long as they see you are trying to work to make those payments and on time.

We were paid bi-weekly during our Plan and I paid our Plan payment/utililities out of one paycheck and the mortgage out of the next one. If you are bi-weekly, you will have 3 pay periods during two months out of the year. We used those extra two checks to get away down the shore, buy certain things we needed or save toward car repairs/holiday gifts. Once you get the schedule and payments flowing and on track, it should work well for you.

[holding on]

Yes Flamingo, Semi-monthly and that's the bind cause the 2nd check is always on the last day of the month. I know the USPS has overnight mail and they deliver to P.O. Boxes with no problem so if that worked it would get there the 31st. You are right that this will be a continuing problem if my play payment is always due on the 30th. My lawyer already has my question in his e-mail box. I just love tapping into people's experiences here as it gives a multitude of ideas.