we were allowed to keep our two cars we bought recently, paid outside of plan and our older motorhome paid outside of plan and a third car that my older two daughters will be using paid in plan, but in order to get confirmed, the trustee upped our payment by $147 a month from the original $301, for 5 years. Even though our attorney didn't give us full federal deductions for some things like recreation to make up for keeping the motorhome payment, the trustee didn't feel it was enough to our unsecureds and that's where the upped payment comes in. We are also lien stripping. Another interesting fact, we have furniture as a secured creditor we are paying through plan and the loan originally was a no interest loan for 7 years which allows just the low monthly payment to pay it off within that time.... Well it turns out, if you pay a secured debt within the plan that had a no interest loan originally, they now have to add interest to that loan while it is in the plan... So the upped payment also includes some interest added to that loan for the furniture.... Now in hindsight, I wish we would have had the money to pay off that loan so there is no extra interest money fee added to it. Live and learn. At least we will be confirmed for the $448 a month officially on May 5th, that's when the lien strip gets approved. I will make up for the upped fee money difference tomorrow so our payments will be up to date for next months full fee. I am so glad we got a competent attorney. The first two cases up had the same so called attorney handle their cases and apparently scammed them out of two thousand dollars each because the trustee said the guy didn't even file a plan. Of course this guy didn't show up either. It was some where out of the L.A. area. I didn't realize scams even happen in pretending to be a lawyer for people who don't know any better. The people only knew his first name and no phone number. Said he was recommended by a friend. Yeah that's some friend alright.
There was two more attorneys there with their clients, one of the two made so many mistakes in setting up the plan that he had to amend before the case could be heard. It was almost like the trustee was a teacher of the law. We only had one creditor show up and it was from our credit union where we are in good standing and have our newer car loans through. She just wanted to make sure we have insurance and who it was with and that we were both on the policy. That was all. It was a little nerve wracking but it was so nice to have the attorney there with us.
Sorry so long, just wanted to share!
There was two more attorneys there with their clients, one of the two made so many mistakes in setting up the plan that he had to amend before the case could be heard. It was almost like the trustee was a teacher of the law. We only had one creditor show up and it was from our credit union where we are in good standing and have our newer car loans through. She just wanted to make sure we have insurance and who it was with and that we were both on the policy. That was all. It was a little nerve wracking but it was so nice to have the attorney there with us.
Sorry so long, just wanted to share!
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