Hi-
I am having a panic attack.
Some basic facts about our case:
-We are Pro-se. We did not have a complicated case (no assets) so it went pretty smooth.
- We have priority claims of $15k (taxes overdue) and $75k in unsecured debt (about $10k in credit cards and $65k in student loans which I am required to pay in full even after the bk ends)
- Our plan calls for paying the priority claims in full and less than 1% to unsecured.
- Our plan is 4 years @ $675 per month.
I received a letter from the Trustee today that states:
"Please take notice that, based upon the terms of the Order Confirming Plan which provide that this is a base plan with Debtor paying #32,400.00 into the plan as disposable income, and based upon the claims filed in the within case (as more fully set forth in the court's claims register), it appears that the unsecured creditors in this case are entitled to a higher dividend than provided in the confirmed plan. Accordingly, the Trustee will increase the percentage to be paid unsecured creditors to meet the base plan amount set forth in the Order Confirming Plan. If you wish to oppose this action, you must file and serve n the interested parties in this matter an objection and request for hearing within 20 days of the date of service of this notice."
Questions:
1) Should I object to this so I can have the opportunity to show up at the hearing and possibly plead my case not to increase the payments?
2) Do you think they will increase the payment amount or extend the plan, or can they do both?
3) The statement does not say what they want to change my plan to. Can I find out in advance or am I just going to get a nice surprise in the mail?
4) If I want to object is there a form I fill out or do I just send a letter?
Hope I can get to sleep tonight!
Any advice would be GREATLY appreciated!!!!!
I am having a panic attack.
Some basic facts about our case:
-We are Pro-se. We did not have a complicated case (no assets) so it went pretty smooth.
- We have priority claims of $15k (taxes overdue) and $75k in unsecured debt (about $10k in credit cards and $65k in student loans which I am required to pay in full even after the bk ends)
- Our plan calls for paying the priority claims in full and less than 1% to unsecured.
- Our plan is 4 years @ $675 per month.
I received a letter from the Trustee today that states:
"Please take notice that, based upon the terms of the Order Confirming Plan which provide that this is a base plan with Debtor paying #32,400.00 into the plan as disposable income, and based upon the claims filed in the within case (as more fully set forth in the court's claims register), it appears that the unsecured creditors in this case are entitled to a higher dividend than provided in the confirmed plan. Accordingly, the Trustee will increase the percentage to be paid unsecured creditors to meet the base plan amount set forth in the Order Confirming Plan. If you wish to oppose this action, you must file and serve n the interested parties in this matter an objection and request for hearing within 20 days of the date of service of this notice."
Questions:
1) Should I object to this so I can have the opportunity to show up at the hearing and possibly plead my case not to increase the payments?
2) Do you think they will increase the payment amount or extend the plan, or can they do both?
3) The statement does not say what they want to change my plan to. Can I find out in advance or am I just going to get a nice surprise in the mail?
4) If I want to object is there a form I fill out or do I just send a letter?
Hope I can get to sleep tonight!
Any advice would be GREATLY appreciated!!!!!
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