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    #1

    Confirmation Hearing Today

    Did not get confirmed today.

    Trustee was concerned that our I & J DMI showed $475 less than the Means Test DMI. Attorney said we are above median so he had to go with the Means Test. Not sure why he questioned that.

    The deal breaker seemed to be that the Trustee was set on the unsecured creditors getting a total of 91K. Our Plan payments would total 98K with 20K of that going to secured. Attorney was baffled by the Trustee's logic.

    The Trustee also did this to the couple in front of us. They were paying in 15K and Trustee said payments to unsecured had to total $17K. Their attorney also was baffled and said "I want to go on record as saying I am right and you are wrong." Everyone laughed except the Trustee.

    Afterwards, another attorney came up to ours and said "He (The Trustee) must have some new software that is calculating wrong. He's been kicking out plans for two weeks now for the same argument."

    Oh well, now we have to wait for it to be hashed out.
    Filed CH13 12/31/08, abandoned March 09 after losing job.

    Ch7 Filed March 2010. 341 Meeting April 2010. Discharge and Case Closed July 2010.
    Tags: None
    #2
    Software? Did you say new software? My Trustee's office uses a spreadsheet and I know that it's wrong as they just bumped my payment to $5,380/month. I did the math in my own spreadsheet, and even with a 10% fee to the Trustee, it's not $5,380 for the duration... only for 15 months.

    However, my plan is confirmed, and I have to fight this the old fashioned way... Motion to Modify Confirmed Plan.

    Sheesh... they must all have upgraded their "software"! LOL
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment

      #3
      I don't get what happened at all.

      Our plan is so harsh right now we can't afford anymore.
      Filed CH13 12/31/08, abandoned March 09 after losing job.

      Ch7 Filed March 2010. 341 Meeting April 2010. Discharge and Case Closed July 2010.

      Comment

        #4
        Great.

        Just found out this morning that our facility is closing in June. I am employed through May.

        Oh well, I didn't like this job anymore anyway.
        Filed CH13 12/31/08, abandoned March 09 after losing job.

        Ch7 Filed March 2010. 341 Meeting April 2010. Discharge and Case Closed July 2010.

        Comment

          #5
          Ok, here are the comments from the Trustee's objection:

          3. MONTHLY BUDGET:
          Budgeted Income 6,944.46 (I)
          Budgeted Expenses 5,765.00 (J)
          Available for Plan 1,179.46

          Available for Plan 1,179.46
          Plan Payments 1,635.83 (B22C + 7%)
          Excess -456.37


          B. Is all disposable income applied for Three years? (Sec 1325(b)(1)(B) ) Y N( X)
          PER MEANS TEST UNSECUREDS MUST REC $91,650 BUT PLAN PROJ SHOWS WILL ONLY REC
          $65,635. AMEND TO INCREASE DISTRIBUTION TO UNSECUREDS.


          Anyone understand the objection?
          Filed CH13 12/31/08, abandoned March 09 after losing job.

          Ch7 Filed March 2010. 341 Meeting April 2010. Discharge and Case Closed July 2010.

          Comment

            #6
            Originally posted by bcvw View Post
            B. Is all disposable income applied for Three years? (Sec 1325(b)(1)(B) ) Y N( X)
            PER MEANS TEST UNSECUREDS MUST REC $91,650 BUT PLAN PROJ SHOWS WILL ONLY REC $65,635. AMEND TO INCREASE DISTRIBUTION TO UNSECUREDS.

            Anyone understand the objection?
            I absolutely understand the objection!!!

            You must have non-exempt property with equity. This is requiring your to pay a minimum of $91,650 to the unsecured creditors. Or, your DMI is such that you should be committing $1,527.60 a month for 60 months.

            This means you must pay a MINIMUM of $1,527.60 a month for 60 months, plus the Trustee monthly fee (7%) of $106.93 for a total of $1,634.43 a month.month.
            Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
            Status: (Auto) Discharged and Closed! 5/10
            Visit My BKForum Blog: justbroke's Blog

            Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

            Comment

              #7
              I have no equity in anything. I am upside down on my house by $2K.

              This is already a 60 month plan. You have it nailed on the head 1527.60 is our means test amount right off of the schedule. I see he has 36 months listed. Is that the mistake he may have made?
              Filed CH13 12/31/08, abandoned March 09 after losing job.

              Ch7 Filed March 2010. 341 Meeting April 2010. Discharge and Case Closed July 2010.

              Comment

                #8
                Originally posted by bcvw View Post
                I have no equity in anything. I am upside down on my house by $2K.

                This is already a 60 month plan. You have it nailed on the head 1527.60 is our means test amount right off of the schedule. I see he has 36 months listed. Is that the mistake he may have made?
                I think that's the mistake... 36 months. If you multiply $1,527.60 plus the Trustee Fee of 7% by 36, you get $58,539.80.

                That amount is insufficient if you're in a 60 month plan. You are above Median, so you must be in a 60 month plan!!! Seems like someone may have made the calculation based on a 36 month plan.
                Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
                Status: (Auto) Discharged and Closed! 5/10
                Visit My BKForum Blog: justbroke's Blog

                Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

                Comment

                  #9
                  See... he must have had new software. lol
                  Filed CH13 12/31/08, abandoned March 09 after losing job.

                  Ch7 Filed March 2010. 341 Meeting April 2010. Discharge and Case Closed July 2010.

                  Comment

                    #10
                    How do you think he arrived at that $65,635 amount though?
                    Filed CH13 12/31/08, abandoned March 09 after losing job.

                    Ch7 Filed March 2010. 341 Meeting April 2010. Discharge and Case Closed July 2010.

                    Comment

                      #11
                      Our car payment is made inside the plan. $20,162 at 6.75% is the claim. Does that payment need to tacked onto the DMI payments?

                      I'm thinking that might be the issue the Trustee has.

                      Am I right?
                      Filed CH13 12/31/08, abandoned March 09 after losing job.

                      Ch7 Filed March 2010. 341 Meeting April 2010. Discharge and Case Closed July 2010.

                      Comment

                        #12
                        Originally posted by bcvw View Post
                        How do you think he arrived at that $65,635 amount though?
                        There's obviously something else... OH, maybe his fees.

                        LOL
                        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
                        Status: (Auto) Discharged and Closed! 5/10
                        Visit My BKForum Blog: justbroke's Blog

                        Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

                        Comment

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