Question about payment dates.

[95kindebt]

We're trying to figure out the best time to file based on our paydates. is it true that the 1st payment must be made 30 days after filing? After that first payment, can you work with the trustee regarding due date?

[justbroke]

We're trying to figure out the best time to file based on our paydates. is it true that the 1st payment must be made 30 days after filing? After that first payment, can you work with the trustee regarding due date?

This depends on where you file. Some Districts have just two pay dates per month (the 14th and the 28th). Some require payment 30 days after filing, some only 30 days after filing your first plan! (The first plan requirement is an important distinction.)

Also, note that it's not "exactly" 30 days. The code just reads that you must being making plan (or adequate protection) payments within 30 days of filing. The Region's United State's Trustee's office usually sets the payment times.

[95kindebt]

thanks. So it really doesn't matter when we file then, in terms of dates? The reason I'm asking, becasue the 1st of the month is so tight with our mortgage (which we've never been late on) the middle of the month is much better.

[justbroke]

thanks. So it really doesn't matter when we file then, in terms of dates? The reason I'm asking, becasue the 1st of the month is so tight with our mortgage (which we've never been late on) the middle of the month is much better.

You should really go talk to an attorney. It's possible to actually miss a payment or two if you're going into a Chapter 13. You can "cure" those missing payments real quickly in the Bankruptcy and I would recommend that you cure the arrears (missed payment or payments) quickly in the Bankruptcy Plan.

The reason for getting those arrearages cleared quick, is just in case your case is dismissed. You don't want to have any arrearage at dismissal because that could put you in the unfortunate position of being subjected to foreclosure action. However, there are some attorneys that do this for clients so that they can pay the attorney fees, and the client only misses one payment.

Planning and timing the payment is something that I did. I specifically filed on the 16th because that made my plan due on the 31st, which in turn made my first payment due on the 28th of the following month! (That's because my Trustee has just two payment due dates for all Chapter 13 debtors... either the 14th or the 28th!)

[95kindebt]

I would love to do this, however hubs is very prideful that we haven't missed a house payment. He said if we miss ONE house payment then we're screwed for life. we are in this mess, because of choices I made in BOTH our names.

I know our Tahoe payment that we're cramming down we're thinking of not paying in Nov/dec, so that we can save the $1300 to file for BK and pay off the attorney fees.

I have our attny on retainer, so I'll send him an email about this too.