Does a chapter 13 always have to be 25 percent of debt? My dmi is short. Just wondering.
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There is no minuimum percentage of your debt you have a pay back. It is based upon your DMI. It can be at little as 0%.Originally posted by karm43 View PostFiled CH13 - 06/2009
Confirmed - 01/2010
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Nope. It's based on DMI. We are paying 0% to our unsecured creditors.
Filed Chapter 13 on 2-28-10. 341 completed 4/14/10. Confirmed 5/14/10. Lien strip granted 2/2/11
0% payback to unsecured creditors, 56 payments down, 4 to go....Comment
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I am paying 40% back to unsecured.Those who live in glass houses should not throw stones
Chapter 13 filed 10-21-09
Discharged 4-13-15Comment
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I mean is there a certain number I have to qualify for. Say you have 150,000 in debt do they want 25 percent of that? it would be 645 something like that.Comment
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I am not sure what u mean by "qualify for". Its all based on how much disposable income you have left. Then the amount you owe is divided by how much you can pay w/your DMI ... I have seen anywhere from 0% to 100% payback. Every BK filing is different and based on your particular situation.Those who live in glass houses should not throw stones
Chapter 13 filed 10-21-09
Discharged 4-13-15Comment
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P.S. There is a STICKY on the Chapter 13 forum that is excellent. You should read it...
.........% of payback does not matterThose who live in glass houses should not throw stones
Chapter 13 filed 10-21-09
Discharged 4-13-15Comment
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