Payment disbursements

[pete42]

Does anyone know how long it takes before the trustee starts disbursing payments for the secured debts like mortgages and car payments? I've made 2 payments already starting back in March and my mortgage and car payments haven't been paid yet. I checked my mortgage online and their charging me a $80 late fee for May's payment not being paid yet. Our attorney told us that we wouldn't be charged any late fee's on any of our accounts.

[Ruthanned1]

us trustee wants to base payment on "income going forward"

so does this mean that i can list all my future expenses? ie car insurance, i need new tires ..need a surgery. need to buy two new baby carseats..etc...

[momofthree]

Does anyone know how long it takes before the trustee starts disbursing payments for the secured debts like mortgages and car payments? I've made 2 payments already starting back in March and my mortgage and car payments haven't been paid yet. I checked my mortgage online and their charging me a $80 late fee for May's payment not being paid yet. Our attorney told us that we wouldn't be charged any late fee's on any of our accounts.

Our secured payments have -- so far -- been made the same month that they're received -- normally at the very end of the month...

so does this mean that i can list all my future expenses? ie car insurance, i need new tires ..need a surgery. need to buy two new baby carseats..etc...

not sure if you meant to post to this thread as it doesn't seem related, but yes, you will include those types of expenses, however they aren't listed separately on your schedules.

Car insurance has it's own line. But tires, tuneups, brakes, etc would all be lumped together under "car maintenance." New child carseats would most likely be considered a "misc" expense under the IRS standards, which allows for $235/mo for a family of 4. Medical you are allowed $60/mo per person ($240/mo for a family of 4), so if you expect to have an upcoming surgery with a high co-pay, you may need to start saving your money or work out a payment plan. If you have a history of higher-than-average medical expenses and can prove the expenses, you may be able to claim a higher amount under your medical expense section.

[Ruthanned1]

hello where on the form lists the 235 misc income /monthly allowance? i did not know about that one . i live in colorado , does that matter ?

[momofthree]

hello where on the form lists the 235 misc income /monthly allowance? i did not know about that one . i live in colorado , does that matter ?

Which form? Means test or schedule J? I believe the means test automatically includes it under line 24A of form B22C.

You can see the IRS allowable standards list here: http://www.justice.gov/ust/eo/bapcpa..._standards.htm

[andy158]

Does anyone know how long it takes before the trustee starts disbursing payments for the secured debts like mortgages and car payments?

My car payments began the first month I filed. I have been in for 10 months now and the only other thing paid was the lawyer fees. No other unsecured debt has been paid and there is $10,000 + cash on hand. ?

[Ruthanned1]

payents based on "going forward"

s trustee wants to base payment on "income going forward"
so does this mean that i can list all my future expenses? ie car insurance, i need new tires ..need a surgery. need to buy two new baby carseats..etc. live in colorado family of four. filing married but single (non-filing spouse) we initially passed the means test when we filed 12/09.. lawyer filed errors on the means test...which now us trustee has filed a motion to dismiss...after 2 amendments to the forms ...(in which lawyer again made mistakes )... now it has to go in front of the judge. just got a call that us trustee wants to "settle" before court. proposing that i pay 842/month plus my car payment of 342, my private student loan payment of 255/month ....at the time we filed , nfs received a 9k bonus which was included in our income. now if we file "going forward" we do not have the 9K bonus and we pay 1000/daycare per month. so actually we r making less. it does not make sense...i need HELP any suggestions on all allowable deductions that we can claim? i really need to get that payment lowered. we have a 7 month old and a two year old...any special deductions for that age group.. ie we need diapers, formula, baby food and misc infant/toddler necessities....any suggestions /comments r appreciated.

[lrprn]

so does this mean that i can list all my future expenses? ie car insurance, i need new tires ..need a surgery. need to buy two new baby carseats..etc...

No. Future expenses can't be added in.

If your income increases after filing, then if the US or local trustee tries to adjust your payments upward due to the increase by forcing a modification of your plan, your lawyer gets the chance to add in any new or increased expenses after filing as well. Often changed expenses will offset an income increase and everything is left as-is.