Surrendering your house in ch 13

[253BK]

We are 5 months into our plan and still not confirmed as we were audited right after our 341 meeting

my question is we have been paying in about 5500$ per month does this money go into a trust account or go out monthly to the creditors that are getting something?

Second

When you surrender your home after filing how long should I be able to live here? OR would dismissing our case and refiling in a few months be better giving us a chance to live here and save some money?

Any input would be great

Thanks

[justbroke]

my question is we have been paying in about 5500$ per month does this money go into a trust account or go out monthly to the creditors that are getting something?

It's like a Trust account as the Trustee maintains it and pays the creditors from it. You should be able to sign up for www.13DataCenter.com and see which creditors have been paid and what you have in your "account".

When you surrender your home after filing how long should I be able to live here? OR would dismissing our case and refiling in a few months be better giving us a chance to live here and save some money?

Has the lender motioned for relief from the automatic stay? If not, then they at least need to do that in order to proceed with foreclosure.

If they have motioned and received relief, you should expect the foreclosure proceedings to start any day. Depending on your State, you could have 60 to 180 or more days.

WARNING: DO NOT VOLUNTARILY DISMISS YOUR CASE, when you have a relief from the automatic stay pending. Not only will your case be dismissed with prejudice, a subsequent filing will force you to prove that you didn't dismiss and re-file, just to stave off the foreclosure or other action to enforce the creditor's lien (or right to cure), but messing with the filings. This was the major reason why the BAPCPA that put the "Abuse Prevention" in the name of the Act. They call this serial filing and people do this as a strategy to stave off creditors. I know you're not trying to do it, but it can be considered bankruptcy fraud as well.

[253BK]

WOW great info!!! We will just surrender the house and they can foreclose on us! We have been paying up until now so I would think we have about 90-180 days specially with the new obama plan...

I will make sure not to dismiss our case and ride it out!

Any one else have this happen? Any more info would be great

[253BK]

Just broke here is some info for you... Now my question is I see that the trustee has not paid out much at all and if we surrender the house will that amount be applied to our balance? From what my attorney says we should have to pay back about 40K in debts being 22K to IRS and rest to unsecured's just due to having 2 paid off cars worth about 40K Below is from data center Let me know what you thin

CASE INFORMATION
Case Number
Case Status ACTIVE CASE
Balance on Hand $17,769.59
Last Receipt Date 3/10/2009
Last Receipt Amount $2,325.00
Last Disbursement Date 11/28/2008
CASE DATE INFORMATION
Date Petition Filed 10/16/2008
Date Plan Filed 10/16/2008
First 341 Meeting Date 11/20/2008
Date Case Confirmed N/A
Date Case Closed N/A
TRUSTEE INFORMATION
Trustee Name [name removed by moderator]
Trustee City WA
Trustee Percentage 5%
Amount Paid To Date $20.62

Percentage To Unsecured
Or Unsecured Plan Base 0
Plan Base $279,000.00
Total Paid into Plan $18,064.21
Total Paid to all Parties $294.62
Total Paid to Creditors

JUDGE/ATTORNEY INFORMATION
Judge Name [name removed by moderator]
Attorney Name [name removed by moderator]
Attorney Paid to Date
Attorney Fee Paid Outside Plan
CLERK INFORMATION
Filing Fee in Plan
Filing Fee Paid to Date
Notice Fee in Plan
Notice Fee Paid to Date

[justbroke]

253BK... First, go back and edit your post to blank out your judge name and attorney name!

Second, the Trustee need not pay out funds just because there's a balance. The Trustee could, in fact, wait until the last day and disburse all the funds. This is typically done for unsecured creditors.

Also, if you're not yet confirmed, the Trustee generally won't pay out. Some Trustees will pay pre-confirmation if it's a secured claim and there are no objections to the filed claim.

[253BK]

Sorry I didnt know not to post there name or info!

So it looks like this will work alot better our attorney emailed us today and said he thinks we are making the right move and we can be done in 12 months if we continue bigger payments!!!

The crazy thing is there is 17800 sitting in a trust account and we have only 40K in non exempt assets so would that leave us just paying back 23200$???

[253BK]

Anyone have this kind of deal happen? We have paid in 17800$ to the trustee but he hasn't sent anything out yet! We have 40K in non exempt assets From what my laywers says it looks like we will owe the 23K difference over 36 months minus the 6 months we have been filed does this sound right?

Just wanted to get some input before going in Saturday to sign away our house

[justbroke]

Anyone have this kind of deal happen? We have paid in 17800$ to the trustee but he hasn't sent anything out yet! We have 40K in non exempt assets From what my laywers says it looks like we will owe the 23K difference over 36 months minus the 6 months we have been filed does this sound right?

Just wanted to get some input before going in Saturday to sign away our house

Mine 13DataCener ledger is so confusing, I don't think that my Trustee has really paid the mortgage holder on my home. I keep seeing $10K and $8K checks as "canceled" and have a really high balance on my 13 as well.

Whether that amount is right, I can't say. Based on right now, this instant... probably correct. However, and remember, a Chapter 13 has you pay all your disposable monthly income to the unsecured creditors unless and until they get 100% or the applicable commitment period ends, whichever comes first.

[253BK]

From what I can find it sound like we will only owe the amount to cover our non exempt assets which is about 40K which would be spread over 36 months from what our attorney said! He is checking on how they will use the 18K we have paid in so far!