End of Chapter 13

[holding on]

Soooo, in some districts your plan is based on confirmation date. What about those people who have confirmation dates pushed back 6,9,12 months because of issues? They been making a payment for 12 months but yet haven't really started their plan? what an absolute crock.

[woeisme]

By law, CH 13 plans cannot go beyond 60 months. It's right there in the new BK codes. In my case, it was weird, but the lawyer originally wrote the plan as 59 months, said it would pass with the trustee because "something always comes up" and having that extra month in the plan would allow for unexpected things, she said specifically, if creditors claims were a little higher than expected it would still allow us to pay off the plan "base" percentage without having to redo payments from the start. We were lucky that in our case creditors filed less than expected amounts, so we were going to finish in 54 months not the "59" proposed. (but then we asked for a modification of CH 13 plan, so are now back to full 5 years when it gets approved, but at a much lower base).

[tra2555]

Question////
Our total Gross income is $8,850/month. Our Monthly expenses is approx. 6,200. We have $ about $2600 / month difference.. how do they calculate your monthly payment in Chapter 13..... and How is the payment to the trustee being made? Payroll Deductions or send them a check monthly?
Thanks for your help

[jade73]

We finally completed at the end of April and are still waiting for discharge, but we did get our refund check.

Why do you get a refund check?

[oldhack]

Question...how do they calculate your monthly payment in Chapter 13?..

Anything not part of your budgeted spending plan is deemed "discretionary income", and scheduled as your payment to the trustee to pay your creditors. It is distributed by your trustee first to your priority (taxes, et al), secured loans (e.g., mortgage and auto), then -- if any is left, to unsecured creditors (credit cards, unsecured personal loans). Unsecured creditors are guaranteed nothing. They only get paid if money is available.