Closing Process??

[Kuya]

Can someone, who has gone through the Chapter 13 Closing process (if that is what it is called??) Can please give some information?

I believe my BK13 will be complete relatively soon. I have paid into the plan MORE than the base plan. Currently, they are still deducting money from my check, but they have stopped paying out any payments to creditors.

I have noticed that all secured creditors are paid in full, and all unsecured have been paid exactly 10%. There is currently about $1,000 paid over the plan Base, that they seem to be holding . . So I am guessing I am near done??

Anyway, can someone share what the process is?

I have completed the necessary class, and mailed my certificate.

I am told that my plan should automatically go into audit at the Trustee's Office, and they will ensure all payments were made properly. This can take weeks? months? how long??

I assume they will keep taking money from me, until the audit is complete???

Once the audit is complete, do they simply mail you a letter that it is complete? Do I need to go back to court. Do I need to sign anything?

I have done lots of research on line but can't seem to find anything informative and I hate not knowing . . it is, after all, my life.

[newbie2]

If you are in a 60 month plan you will keep paying until you've reached the 60 months. The "base" plan really has nothing to do with when you are finished. (Your plan was not 100% going to your unsecured creditors). Many plans end up paying more to unsecured creditors than what was originally proposed because of income tax refunds turned over to the trustees, etc. (Ours is like this, we have hit the "base" and are now paying more to unsecured creditors).

When the 60 months are close to being up contact your attorney. Alert them that you are close to being finished (if they haven't contacted you already) and ask him/her to keep an eye on things for you.

[Kuya]

newbie2,

Thank you for your response. What you say does make sense and you are probably correct, even though I hope you are not lol. Either way, it's just a few more months . . not the end of the world.

The only thing, is that my court paper (signed by the judge) was a 60 month plan where I was to pay $480 a month for 60 months.

Now, in my case, they take biweekly payments of $240 which usually makes up $480/month. BUT a few months a year, I get 3 pay periods, so in essence I paid $720 several months throughout - which (only in my head) makes sense that it might end a few months early.

Also . . My Trustee makes payments to creditors at the beginning of every single month. She has never failed. She always pays out all the money that is currently on hand. 2 months ago, something strange happened . In November, she made payments to my remaining creditors .. . .but just very small amounts. There was still a few hundred dollars left in the pot to be carried over. AND it just happens that ALL my secured creditors are paid in full, and all my unsecured creditors have been paid EXACTLY 10%.

Why did she not pay them more? There was more money that she could of used . . and she has never left money in the pot before.

Then December comes . . I am still paying into the plan . . but no payments were made to any creditors. This was the first time I have ever seen no payments go out at the beginning of the month, for my bk.

I called the Trustee's Office and spoke to a lady (not the actual Trustee). She told me that when you pay your base, their system automatically kicks your file to Audit and begins the audit process to ensure all payments were made to creditors correctly.

Anyway . . I am sure you are probably correct . . and I must wait the full 60 months .. .but gosh . . I am still hoping . .just a bit lol