Trustee lowered percentage, who gets the extra money?

[4ever]

According to datacenter, the principal owed is about half of what our scheduled amount was. We are paying around $928 a month for 60 months. That would come to around $55K. The principal comes to around $47K. I figured we would hit that mark at 52 months. So do we keep paying for the whole 60 months and hope to get that extra money back as a refund, or will the trustee spread out the leftover money to the creditors?

[lrprn]

Regardless of what "amount owed" figures you may see on your trustee's website, your actual case payoff amount must be calculated by your trustee after a request from your lawyer. The payoff figures seen on 13DataCenter and 13Network are not necessarily accurate.

Since you're in a 100% payback case, you could very well finish your 13 earlier than expected, but you do need to continue to make your payments until the court instructs you that your payments have been made in full or your lawyer tells you it's ok to stop. Any overpayments will be refunded to you once your trustee completes auditing your case.

Keep in mind that your lawyer can ask the court to stop any auto-withdrawals from your paycheck or payments made directly by you while the trustee is auditing your case.

[4ever]

Thanks. We are in about a 67% payback. We just got a letter from the trustee that the payback to the unsecured creditors would be at 52%. We only have one secured creditor which is our car and it is at 100% payback. I know we have to keep paying until they tell us we are through, that's why when I added up the money owed, it comes to less then the 60 months of payments would be. Do you think it's possible they might lower our monthly payments eventually so that it would stretch out to the whole 60 months since less would be owed?

[CCB35]

if your car is paid off earlier,i am afraid the trustee will take that portion and distribute more to your unsecured creditors.til they are paid 100% or the sixty months are up,whichever comes first.

[4ever]

Thanks.