Notice of Additional Claims

[jamist649]

Got a notice in the mail yesterday from the Trustee's office. We did a deed-in-lieu on a house that we were renting out. This all happened about a year after we origianally filed BK13. Our tenant left, were were WAY upside down, etc, etc. We contacted our attorney and told her of the change. She told us at that time that everything would be ok. Well, the bank sold the house and has now filed a proof of claim for a $15000 deficiency. We're paying our primary mortgage outside of the plan, as well as our cars. The claim they have been allowed is shown as "unsecured" and if I'm thinking correctly, we're paying much of nothing to unsecureds so am I correct in thinking our plan payments will remain unchanged? I've got a call into my atty's office, but I was wondering if anyone could offer any guidance here.

[justbroke]

...if I'm thinking correctly, we're paying much of nothing to unsecureds so am I correct in thinking our plan payments will remain unchanged? I've got a call into my atty's office, but I was wondering if anyone could offer any guidance here.

Yes, you are correct. Your plan payments should stay the same. I'll caveat that with the fact that you state that this was a rental (investment) property and you should have been breaking even. If you were not making a profit... and somehow, your creditor were unaware that the investment property was subsidized by your Plan... it could increase.

I say this because I had this same experience, only my Plan isn't confirmed, I'm 3 months in, and I already have to surrender my investment Property! Same scenario, except I have equity in the rental. Unfortunately, my Plan wa subsidizing the property (no one noticed) as the PITI was about $200 more than I was taking in for rents.

I also assume that you were paying the investment property outside the plan too?

It may seem odd that a creditor would file a claim when they're only getting 10%... but it's 10% of maybe $20K or $100K. Nothing to sneeze at if you could be getting 0% paid through the plan.

[rrockinggramma]

wondering if the claim would be allowed since the bar date has passed. But they would be paid at the same rate as unsecured's are being paid.