Ch.13 Payment question...

[starlite]

Hi:
I have a number of charge offs and credit card debt,totaling about 35K. My NDI is high, over 2K, so will they just divide what I owe by 60 months? I am afraid they will take all of my NDI each month... Honestly, I can barely make ends meet as it is.
Thanks!

[optimistic1]

How have you come to the determination that your DMI is 2k. Are you under or over the state median income from the BAPCPA site?

[starlite]

Hi:
I took the means test for my state and filled out the questiions too, at the nolo site.

[optimistic1]

And your certain you have calculated everything correctly and entered every line item by the bankruptcy code? I would hold off a little bit and not take everything on the NOLO site for granted. Do you intend on hiring an attorney?


It depends on a variety of factors, of which you have not given enough details for anyone to give you an answer.


1. Average income in the last 6 months.

2. Actual expenses as of today.

3. Anticipated average monthly income looking forward, including bonuses, tax refunds etc.

4. List of unsecured debts, secured debts, tax debts, student loans, etc.

5. Assets, cars, boats, jewelry, home equity, etc., etc.

6. Married, unmarried, common law?, which State and county do you live in.


This is but a short list of details for anyone to accurately answer your questions. But, lets say hypothetically that you calculated it correctly.

The trustee will take this amount for 60 months, unless of course your DMI can pay all of the creditors 100% of what is owed, then your plan length will be shorter.

I find it somewhat astonishing that given the generous allowances set forth in the means test rat maze, that you still cannot make ends meet.