Attorney's Fees Proper?

[TexasEx]

I second that forgotten! They also do not require any bonuses or raises and can pay off the 13 early by making extra payments. Heck my lawyer even told me that if my wife goes back to work after finishing school we can just continue to pay our existing payment amount on time and if the trustee asks we will just tell them she is still in school! How is that for confident that the trustee will not ask for any future information?

[falken]

I second that forgotten! They also do not require any bonuses or raises and can pay off the 13 early by making extra payments. Heck my lawyer even told me that if my wife goes back to work after finishing school we can just continue to pay our existing payment amount on time and if the trustee asks we will just tell them she is still in school! How is that for confident that the trustee will not ask for any future information?

I would be careful on the paying off early. I know she claims to allow it, but I did a lot of pacer searches and couldn't find anyone that had actually done it. I'm afraid it might not win an objection and the early payoff money would be gone.

But yeah, our trustee is pretty laid back. She didn't allow my car payments but didn't have issue with anything else. Overall one of the more reasonable districts!

Edit: Even my attorney cautioned I may be better off sending any extra money to pay off my car or HELOC earlier instead.

[justbroke]

EDKY (Eastern District of Kentucky) hasn't really modified their position since the 2005 BAPCPA changes were made to the Bankruptcy Code. Prior to the BAPCPA of 2005, almost all Districts allowed early payoff after 36 months in the plan, but have now moved to adhere to the code for a 100% payoff requirement. However, EDKY seems to keep the "old law" in place.

The pre-BAPCPA rules basically were that the person could, after 36 months in plan and paying on time, propose to payoff the rest of the plan, unless the payoff was 100% in full. Also, the source of the payoff is incredibly important.

For everywhere else, I haven't seen one documented case with an early payoff that is "new law" (or confirmed under the amendments per the BAPCPA of 2005). Some debtors have been hurt by this by paying off a Chapter 13, then seeking to get a discharge. Only to have the Trustee and/or the Judge oppose it because the person hasn't been in plan for at least the applicable commitment period.

The only way to GUARANTEE a buy out of a post-BAPCPA Chapter 13 confirmed, les than 36 months in, is to pay 100% of the allowed unsecured claims.

[TexasEx]

Very good point justbroke. I just read over the debtor handbook that I was given at my 341 and although it doesn't spell it out exactly like you mention it does infer it. I should have said the trustee allows extra payments in order to be done earlier, not pay it off completely (although the handbook says it can be done but must be discussed with attorney and trustee, and I'm sure it will be at nothing less than 100%).

By the way do you have a life outside this forum, or do you just have a computer surgically implanted onto your brain with direct connection to bkforum?

[justbroke]

By the way do you have a life outside this forum, or do you just have a computer surgically implanted onto your brain with direct connection to bkforum?

Actually, I do a lot of other things. I have 3 computers on my desk and 4 flat-screen monitors. Just call it (preemptive) multi-taking.