Payback question

[chzhd]

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.

[optimistic1]

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.

[woeisme]

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.

[BNKRPTinNC]

Are you sure that 100% payback will include unsecured debt? I'm paying back 100% but only to the secured.

[woeisme]

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?

[chzhd]

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.

[woeisme]

Best of luck!