Trustee has objected to my plan

[JustChillin]

The trustee has filed an objection to my Chapter 13 Plan. She wants me to surrender a car, that I need to demonstrate right now my ability to refinance my Real Estate Contract in 2007 right now, that my plan is infeasible. Can it get it confirmed? Anyone?

[coit]

I don't have an answer for you, but in looking back at your old posts, it seems that no one has answers for any of your questions..

That's a bummer, I hope you can get the answers you need? Did you file without an attorney?

[HHM]

Most trustees will object to something in a plan. Its an opportunity to negotiate. Without looking back at your old posts, I don't have any specifics to give you, but approach it as a negotiation, the trustee is obviosly looking to put more money into plan payments, maybe you and the trustee can find a compromise.

[JustChillin]

Has anyone extended their plan to compensate for a second car, my plan right now is $137 for 36 months. The second car has a value of $1,330, so if I offered to extend my plan for 10-12 months extra wouldn't that fit the "best interest of creditors test"?

[StaciMM]

Do you have any non-exempt assets? That factor may also play a part, as the creditors need to get at least as much in a 13 as they would in a 7.

[JustChillin]

I calculated that 2% would go to my unsecured creditors so I guess she wants me to add $1,300 to the plan by increasing the length to insure that the creditors get at least that much. I think she just wants more money.

[StaciMM]

Does your state have a minimum % for unsecured? I thought most required at least 5% or 10%.

I calculated that 2% would go to my unsecured creditors so I guess she wants me to add $1,300 to the plan by increasing the length to insure that the creditors get at least that much. I think she just wants more money.

[bkfiler]

side question: what happens if you get a great paying job later. do you have to change the plan? tell the trustee? or can you just pay them off right away?

[JustChillin]

In my district if you get a better paying job later and that increase is 10% or more in higher pay resulting in higher disposable income, the trustee will require you to amend you schedule I and J, and increase your plan payment.

[bkfiler]

ok so increase the amount you owe each much.

but does that mean it gets paid quicker or does that mean the total they get goes up as well?

it the total goes up then that really is a form of credit slaverery.

[Minnymouth]

Bottom line is if you make more money, they are going to take more money to pay into the Chapter 13 plan.

You'll not be stashing any away somewhere, as long as the Trustee knows its there.

Cruel fact of life...............

Minny

[JGGR]

When did your trustee object to your plan? On the 341 meeting, later, or in the confirmation hearing? I'm hoping they don't object to ours. We had our 341 meeting and the trustee ammended a few things (I got a higher paying job for instance, and he eliminated my student loan payments for the duration of the plan, so all this added up to more disposable income). I hope this is it, though. Any thoughs on trustees or the court objecting to your plan after a 341?

I wish you the best of luck as I too am in the same situation.