top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Payback question

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Payback question

    Last night I went through my credit report and got all my balances of what I owe -- we are going to have to pay back 100%. However, we haven't paid any of our cc's since about November, so they are accruing interest. Will we have to pay the balances as of the date we file (which will be soon) or the date that we stopped paying?

    When I figured it last night, I used the date we stopped paying. When I figured out the total, then figured out how much I was going to pay in our Ch. 13 plan, we would end up paying about $30,000 more. Something doesn't seem right. We're having a meeting tomorrow with our attorney.

    #2
    Date of the filing most likely, the contract stipulates your responsible for all the fees and minimum payments, so will you be contractually obligated for them.

    Comment


      #3
      Interest and fees accrue until the date of filing. At that point, they stop. Also, don't forget the trustee fees, which can vary anywhere from 3-10% depending on district. Those will also have to be included in the plan payments.
      Filed CH 13 September 17, 2007
      Plan Modified July 8, 2009 from $1100/month to $400/month due to change in income, finally discharged in July of 2013!

      Comment


        #4
        Are you sure that 100% payback will include unsecured debt? I'm paying back 100% but only to the secured.
        Filed 11/10/08

        Discharged 2/18/14

        Comment


          #5
          Originally posted by BNKRPTinNC View Post
          Are you sure that 100% payback will include unsecured debt? I'm paying back 100% but only to the secured.
          Then you are in a 0% payback to unsecured plan. Some districts won't allow this, others will, is trustee dependent.

          But it sounded like the original poster is paying 100% to unsecureds, is that correct?
          Filed CH 13 September 17, 2007
          Plan Modified July 8, 2009 from $1100/month to $400/month due to change in income, finally discharged in July of 2013!

          Comment


            #6
            I'm assuming we're in 100% payback to unsecured. Plus obviously we still have to pay our secured. We have a meeting with our attorney in 2 hours today. Hopefully we'll get answers to our questions and maybe have a little less stress this weekend. I doubt it, but I can only hope.

            Comment


              #7
              Best of luck!
              Filed CH 13 September 17, 2007
              Plan Modified July 8, 2009 from $1100/month to $400/month due to change in income, finally discharged in July of 2013!

              Comment

              bottom Ad Widget

              Collapse
              Working...
              X