Scheduled Amount or Claim Amount...WHICH is used to pay off

[tbon]

We are approaching the end of our 100%, 60 month C-13 and I've had this question ALL the way back from the beginning of our filing...thinking that as we got down to the nitty-gritty of having this paid off, we would start to see WHICH AMOUNT was actually going to be fulfilled on our payback.... the "original CLAIM amount" of our unsecured debt or the "SCHEDULED amount" of the unsecureds~ you would THINK that by now I would be able to answer this myself looking at our 13Datacenter schedule, but our Trustee has managed to keep us in suspense by just paying a little bit to each creditor rather than just paying one individual off... I realize they get a % each month, but really~ at this point (we have 4 payments to go to finish) I would think I should see which claim is actually going to be paid....
On some of the claims there is not much difference in the amounts, but on others there are several thousand dollars difference... has anyone paid attention to their differences in dollar amount of SCHEDULED CLAIMS amounts vs. CLAIM amount (which is what I put on paper the day we filed) and to which amount was actually paid off?!
Thanks!

[justbroke]

Your payback is based on the amount of the claim! The only way for a creditor to be paid in a Chapter 13 is to file a claim (or have one filed on their behalf by the Trustee or Debtor).

Many Chapter 13 debtors get concerned about "how" a Trustee is paying creditors. It is not your concern. The Trustee must pay certain creditors "first" and then will deal with others. Generally speaking, the Trustee will pay your attorney, himself and the IRS (and other "priority" debt) first. Next, the Trustee pays the secured debt (cars, home, etc). Both the first and second types of debt are actually paid at the "same time", but that's their "priority'.

The Trustee may choose to pay the "unsecured" creditors as little as $1.00 per month for the duration of the plan. Some Trustees pay the unsecured creditors NOTHING until near the end of the plan, when they pay a lump sum based on the unsecured creditor's "share" of the disposable income. I like these Trustees because they'll make sure your car is paid off FIRST before paying a penny to the unsecured creditors.

As for the value of a claim, you need to POLICE THEM! In a Chapter 13, you need to look at the claim and then have your attorney OBJECT to any claim that seems like it is wrong! Additionally, object to any claim where someone purchased the debt and they didn't offer enough PROOF that they own the debt! I objected to 23 of my 45 claims and all those claims ended up being denied. I think 3 of them tried to fight the objection, but still lost (they were purchased claims).

[momofthree]

The scheduled amount is the amount you listed in your schedules.

The claim amount is the amount that the creditor submitted their claim for, and THIS is the amount that they will be paid. Like JB said, if a claim seems incorrect, then object to it.

[tbon]

My claim amounts are lower than my scheduled amounts, like I said some by a few hundred $, some by a few thousand $~ my Trustee did pay for all my secureds FIRST, and has doled out the rest gradually which is what we understood how it would be all along, BUT, we DID object to our attorney in the differences of amounts, and she said the CC companies continued to rack up the interest in between the months of us trying to decide on whether to file or not, which was about 3 months time, so their interests did accrue during the time we took the means test and actual filing... I always felt that was not fair to us, especially because we were basically never late until we decided to file and when the actual filing happened.... we're talking about 8K total here~ and when you're paying back 140K in debt, 100%, it just doesnt seem right that the CC company gets to tack on that accrued interest and get paid~

[frogger]

the CC companies continued to rack up the interest in between the months of us trying to decide on whether to file or not, which was about 3 months time, so their interests did accrue during the time we took the means test and actual filing... I always felt that was not fair to us, especially because we were basically never late until we decided to file and when the actual filing happened.

Nothing at all unfair about this. You did not pay, you had not filed for bk, and the interest and fees kept adding up. While you may not like it, it is what it is, and is subject to the terms and conditions that YOU accepted when you got the card.

[tbon]

I did pay the "required" monthly fees in between time of seeking an attorney and filing frogger~ I know what my responsibilities were and are thank you~
CC companies change their agreements almost every month~ they can do what they please....
I am, and will have, paid them every dime by Dec 2011, and I'm proud of it!
Stay on your side of the fence Mr. C-7 .... I am in a C-13 forum and have PAID my DEBTS!!

[frogger]

But you're fussing about the interest and fees that were added BEFORE you filed. It doesn't matter if you have paid for years, if you didn't pay those months or weeks, the fees are appropriate, therefore my comments that it is fair.

Don't take it personal.......... Most all of us hate the cc companies and their tactics.

[Pandora]

...
Stay on your side of the fence Mr. C-7 .... I am in a C-13 forum and have PAID my DEBTS!!

That's pretty low - doesnt matter if you paid 100% of your debt, 2% of your debt or if you had filed Ch. 7 and paid nothing - bottom line is you filed for BK. Just because you were required to pay back 100% to your unsecured creditors doesnt make you better than anyone else. It merely means you had the disposable DMI to fund a 100% payback - that's all..and that's it. Remember your credit is just as screwed as anyone else's that filed BK - regardless of what chapter.