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[ronn]

My NDI or DMI is $200.00-My non exempt assets what i will call my equity is $20,000.00, now do i pay both or the higher one to the trustee.

[newbie2]

My NDI or DMI is $200.00-My non exempt assets what i will call my equity is $20,000.00, now do i pay both or the higher one to the trustee.

You have to pay as much in to a Chapter 13 plan that would cover what your creditors would receive if your non-exempt assets were liquidated.

In this case you have $20,000 that is non-exempt. If you want to keep the non-exempt asset you have to pay that $20,000 over the life of the plan. That equates to about $333 over 60 months, plus trustee fee and any attorney fees you have rolled in to your plan.

If you cannot pay that amount then expect the trustee to liquidate it.

[SMinGA]

You will need to find more DMI: either by increasing income or cutting back on expenses. The other option is to give up some non-exempt assets.

[ronn]

Thank you for your answer. But what if you cant pay $333.33 a month, can you sell some of your nonexempt assets to egual your debt and be done with it.

[SMinGA]

You can allow the trustee to liquidate the non-exempt assets to distribute to your creditors.

Thank you for your answer. But what if you cant pay $333.33 a month, can you sell some of your nonexempt assets to egual your debt and be done with it.

That is of course assuming you have already filed. If you have not, you may try to sell the non-exempt assets now. Don't give them away or sell for cheap, however. Do your best to get 'fair market value'. Keep records of what you sell, who sold to, how much sold for, and even the price of similar items others are selling. Discuss w/ your atty - but you may be able to convert some of that cash into something you can keep. Stock up on groceries, do vehicle maintenance, prepay your atty fees in full for example.

[ronn]

Thanks now i get it.