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How long till Unsecured creditors get paid from trustee

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    How long till Unsecured creditors get paid from trustee

    I am going into my 50 month of 60 and was wondering how long till unsecured debt is paid from the trustee. I have a large amount of on hand money (double what is owed to unsecured). This amount and the remaining months of mortgage is all I would have left . I am still paying about $500 more a month than what my mortgage payments and trustee fees have been running a month. Any ideas why this may be?Thanks in advance

    #2
    Originally posted by godeep99 View Post
    I am going into my 50 month of 60 and was wondering how long till unsecured debt is paid from the trustee. I have a large amount of on hand money (double what is owed to unsecured). This amount and the remaining months of mortgage is all I would have left . I am still paying about $500 more a month than what my mortgage payments and trustee fees have been running a month. Any ideas why this may be?Thanks in advance
    Assuming that your plan hasn't changed since you filed 50 months ago (has it?), when your trustee disburses your payments to your unsecured creditors really doesn't matter.

    Unless your plan is one that pays back 100% to your unsecured creditors (is it?), when your trustee chooses to disburse whatever has built up to your unsecured creditors won't shorten your plan even one day. And worrying about it won't change what your trustee does and when either. Just keep making your remaining payments on time and don't worry about what your trustee is doing.
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !

    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

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      #3
      Many Trustees don't pay the unsecured creditors until the very end. They do this in one lump sum payment to the unsecured creditors. I guess this saves them on postage and checks.
      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog

      Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

      Comment

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