So we checked Pacer and:
Secured claims: Car company did file claim as we expected
Priority claims: IRS and state did file claim as we expected.
Unsecured claims: Of 13 creditors, only 4 did not file claims.
The deadline (dec 2010) has passed for the claim filing, however we are not confirmed yet. We had 2 creditors' meetings. Confirmation hearing scheduled for May.
We filed to payoff the fed/state tax debt. House is being paid outside the plan. Everything else is in the plan.
We assume our student loans will get deferred, however it also is going to get some money. We're willing to accept the additional interest the student loans will accrue because the bigger monkey on our back was the tax debt.
We were self-employed, however due to not getting a steady monthly income, we were unable to make our payments. We just kept getting in deeper and deeper and realized in 2010, it was not worth getting into so much tax debt. We found jobs so now we have a steady income each month.
So does this mean that the 4 creditors who didn't file will not get anything? Can the attorney use the final claims as a way to lower our monthly payment. We would use an extra 100-200 dollars each month so we don't have to dig into our savings as much and can have a cushion over the next 5 years to get us through the bk.
Secured claims: Car company did file claim as we expected
Priority claims: IRS and state did file claim as we expected.
Unsecured claims: Of 13 creditors, only 4 did not file claims.
The deadline (dec 2010) has passed for the claim filing, however we are not confirmed yet. We had 2 creditors' meetings. Confirmation hearing scheduled for May.
We filed to payoff the fed/state tax debt. House is being paid outside the plan. Everything else is in the plan.
We assume our student loans will get deferred, however it also is going to get some money. We're willing to accept the additional interest the student loans will accrue because the bigger monkey on our back was the tax debt.
We were self-employed, however due to not getting a steady monthly income, we were unable to make our payments. We just kept getting in deeper and deeper and realized in 2010, it was not worth getting into so much tax debt. We found jobs so now we have a steady income each month.
So does this mean that the 4 creditors who didn't file will not get anything? Can the attorney use the final claims as a way to lower our monthly payment. We would use an extra 100-200 dollars each month so we don't have to dig into our savings as much and can have a cushion over the next 5 years to get us through the bk.
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