chapter 13 payments

[scorpios]

hey there my mother is filing chapter 13 she helped us a couple years back and got a loan for 24000 she got half and gave us half for bills and such....
well now how do i find out how much i will still owe her? that will be in her payment plan she says i still have to pay my part which is fine but how do i find out what that will be?

[13inIN]

Is the loan fully in her name? If so, the amount she will pay will likely only be a portion of what is left. In that case, I would think that you would owe her half of what ends up disbursed back to the creditor. You'll have to learn the details of her plan to figure that out.

I can't imagine this happening, but make sure she has not included your repayment to her as income. That really wouldn't be a fair deal.

[scorpios]

no she is not including me paying her but she still wants me to pay my portion which is fine but i only want to pay MY portion and i dont know how to find that out or if i look at her papers will it say what crap 1 gets paid per month? and yes it is totally in her name.

[falken]

Was it a secured or unsecured loan? If it was a secured or she is in a 100% payback plan they will be paid back in full, so its easy to see how much your half still is.

If she is in less than 100% payback then you can estimate what percentage they will be paid back from the plan. The plan may have an estimated % to unsecured on it, or you can figure it out from the payments, this will just be an estimate as there are lots of variables that determine what % unsecureds get.

However, not disclosing your payments to her is fraud as she will have lied on her petition. If she is not paying back 100% and you are giving her $200/mo that is another $200 that should be going to the trustee. If everything is in cash (and has been) no one would probably find out, but its still a risk.

[scorpios]

no it is unsecured and no i dont pay her monthly and when i do it is all cash. so it will say unsecured get 40% 58% 100% what ever and what ever that percent is i figure that percent of what was left on the bill? does that make sense? thanks again!

[13inIN]

Without cutting it to the penny, that's the best way to figure it out.

If her plan is estimated to pay 50% to unsecured, then you are looking to pay 25% of that claim amount. The claims register and everything you need to know is available on Pacer once her case is on the books and the plan is confirmed.

[scorpios]

thank you soo much!!!