60 payments, what does it go toward

[Flowers]

What goes into the plan?
meaning, if I am doing a $300 payment over the 60 months what exactly am I paying? The cc's? the backpaymetns on the car?
State, local, and federal taxes are not in there?


The 300 a month hardly comes close to the full extent of the debt.
can someone explain to me?

[BK2008]

Your trustee should have given you some sort of an itemization on what was being paid and at what % of the debt.

Perhaps you can find this on your PACER account??

[Flowers]

I am not at that stage yet, still in discussion with attorney but this is what was proposed. Just wondering if someone might know if I can get in the right direction.

[AngelinaCat]

Hi Flowers, we were supposed to file a 13, but I lost my job and had to file a 7.

My understanding was that we were to pay the trustee a set amount each month. It then is up to the trustee as to who gets paid first. The secured creditors, such as the mortgage, or automobile, IRS--who always comes first, then the unsecured--usually the CCs.

Depending on your plan, usually the unsecured creditors are paid last. Then, of course, the trustee gets a commission.

[AngelinaCatHub]

Also, unless you are making a fair amount of money, your debt is reduced. So you do get some break. Bad part is 60 months is five years before discharge and close. If you are able go for 7 and a new start. The means test can tell you this. Lawyers like 13 as they make more $$. 'Hub

[HHM]

The bottom line with chapter 13's is you pay what "you can afford" to pay.

As for what exactly gets paid and what doesn't, that usually does not matter to the debtor. If any unsecured debt is not paid in full during the plan, any remaining balance is discharged (eliminated).