Does anyone else's plan read 100% payback / confirmed yet...

[Pandora]

Okay - I posted this under my other thread, but guess it should be separate. I'm trying to figure out why our plan (which was confirmed around 21 September or so) says payback is at 100% - however our paperwork says its like 45% of what we owe? Our plan was based upon assets not able to exempt - and we paid for them in the plan (Ch. 7 liquidation value).

We have the following in our plan: legal fees, trustee fees, property taxes, 2 small dr bills we had to include (less than 500 combined - I forgot about those!) and our 2nd mortgage. Our house and car are outside of the plan.

It states on 13data that everything is getting 100% payback, yet the 2nd was stripped (or will be), and trustee has updated it several times since confirmation, although no payments have been made yet due to lawyer just filing his additional fee for the AP ($250). Payments should begin shortly. So as I understand it - our lawyer, property taxes and medical get paid at 100% and the trustee takes his 6.9% - then the rest of the monies left go to the 2nd. The 2nd reads "100%" as well - but they will not get that - guess thats where the 45% comes in?

Can you pay 2 different percentages like that - or is it considered 100% since we're stripping the 2nd and it was approved? Reason I'm asking is because I"m trying to figure out if this is the reason our trustee is not requiring pay raises, tax refunds, etc to be reported and/or taken.

Thanks

[needanswers]

I'm looking at my Data13 info and right on the "Case Summary" page, it says our true percentage that we are paying back to unsecured creditors.
And then on the "Claims Summary" page, it matches that, even for the 2nd mortgage we are stripping.

The only thing on my Claims Summary that is showing 100% payback is for the $1000 attorney's fees that we added into the plan.

[Pandora]

thanks needanswers -

see thats where I'm getting confused. Ours says "100%" under the Claims Summary and Case Summary - yet our paper from the judge state 45%. Ugh... we are definately NOT paying 100% of the debt to all claims - but we are paying 100% to 3 out of 4 claims.

Where is despritfeya when I need him? *sighs*

[newbie2]

Pandora, are the amounts that the creditors filed accurate? (Perhaps someone didn't submit a claim or submitted a lower amount than what you thought?)

[Pandora]

newbie2

Yes, they're all correct - I've double and tripled checked. Everything is exactly as entered, and all areas jive.

Thats why I'm bamboozled on this - everything is right - its all at 100% yet our DMI doesnt dictate 100% payback, although it is all of our DMI and our plan was based upon assets we could not exempt, thats it. What I'm wondering is if the 2nd is stripped, is it considered to be paid at 100% because legally we can strip it off and they have no claim, therefore whatever monies they get constitutes a 100% pay off ... or.. is it because we paid in 100% of our assets, which is what our plan is based upon, so that constitutes 100%? Meaning - if we didnt have to pay in the assets we wanted to keep and couldnt exempt - in reality our payment to unsecured could have been 0%, with only paying attorney fees and property taxes in the plan (only secureds). So is that why? Our DMI is what it is (and the plan payment) because of the assets we wanted to keep (vehicles)...otherwise, we fell under median and could easily adjust for most of our plan payment through our schedules.

Gosh, I hope I'm making sense here, I dont know how else to word it

(edited because even I'm confused now LOL) Sheeshhh...

[LadyInTheRed]

The Data Center shows me at 100% payback for all creditors, but my plan calls for "Pro Tanto" to unsecured, meaning they get very little. Everything else is correct, like my plan base and my monthly payments. I don't have any non-exempt assets, but I am stripping my 2nd. They show the 2nd as being paid 100%, but it will get paid "pro tanto" with all other unsecured creditors. I'm paying only trustee fees, attorney fees and car payments through the plan.

October 6 was the deadline to file claims in my case, so I wonder if the percent to unsecured will be updated the next time the trustee disburses funds to creditors. They don't actually know the percentage going to unsecured creditors until all claims are filed. It may also be that not all trustee offices enter all of the data. I decided not to worry about it. What is important is what is in the confirmation order.

[jange]

I am paying 100% to unsecured, but not 100% payback. My claim summary shows 1% of claim to be paid, which isn't right either. The tt has made 3 payments to the unsecured and so far none have been for the same amount.

[Pandora]

Thanks jange and LadyintheRed (nice to see you back btw - wondered where you went ) Boy do those words seem familiar (pro-tanto) - will have to pull my order and see if its on there. So both of yours pretty much read like mine does then - all claims (secure and unsec) are listed to be paid at 100%, but you're not a 100% payback either? My base plan and monthly payments are correct, and as I stated earlier, all claims are in/have been in for a while.

Just seems very strange to me. If it were truly 100% of everything, then I'd be looking at a payment of around $2000 a month to payback everything at 100% plus assets we couldnt exempt, which obviously we couldnt do based on our DMI.

[walkthaplank]

I have been checking on my NDC case info because for the last month or so it has shown "case being audited" as the status. Well now it is back to "active" but now shows 99% payback, when I am in a plan that is less than 20% payback. Even on the claim summary it is showing 99% payback and shows 99% of the claim as the "principal owed" I'm hoping this is some sort of glitch and will be corrected shortly... It still shows my payment as being my payment, and at that amount will pay 99% but wow... shock after shock!

I have been checking PACER and there has been nothing filed, so sticking with the hope of a meaningless glitch.