confirmed on 1/14

[puggymoo]

We were officially confirmed on 1/14. The court date was 1/19 but since ours 100% payback it didn't take that long. We were suppose to pay 1140 for 60 months . Will pay 1140 for 16m, 1400 for 16m and the the remaining 16 is about 1800. Still hoping waiting for creditors to file claims(all unsecured).. So far only 2 have filed and that is 800 total. We still have to pay lawyer 1775 but all the money is in there for all of this so far.

[mwenmad]

Hi, Congrats on your confirmation. I'm new here and filing soon. My question is, what causes/caused the tiered payments? ("1140 for 16m, 1400 for 16m and the the remaining 16 is about 1800.") Thanks

[puggymoo]

This is because we have a retirement loan that ends in 16 months and a car payment that ends is 34 months so all our extra payments have to go to the plan.

[stlrs]

Congrats to you. I have the same deal as you w/ payments changing. The first 46 months are 1 amount and the final 14 are different due to a loan being paid off at that time. Congrats again.

[mwenmad]

Is that the norm? Reason i ask is i have a car payment that will be done 1st part of 2014 the car now has slightly over 100k miles. So if the payments are forward looking, can i also say i'll need a car in two to three years that will cost me about the same in payments? Not sure if that makes sense

[stlrs]

I'm honestly not sure. I'm fairly new to this myself. I'm sure there are others on this great forum that would be able to give you better insight than I can. My situation is a 401K loan. I don't know if that is different than other loans when it comes to monthly payments changing. Sorry. I don't want to give you the wrong answer. Good luck to you.

[puggymoo]

Our trustee told us that after my (tsp loan) was paid we had to contribute that the plan. Since my vehicle will be paid the following year we also had to put that in for payments. The term was 60 months at 1140 bu with the extra money it will be 48 months.