What will happen to any balance remaining at the end of our 13?

[MOMof3]

I'm assuming that at some point our "balance" will be distributed? For the last few months, just our mortgage has been paid because our % to unsecured and all secured debt, etc.. has already been met. We should make our last payment the end of January and just rough calculations say that would leave a balance of at least $4000. So do they up our % to unsecured and distribute it at the end, or ??? I guess there is a part of me that hopes they will give it back, I know, fat chance, LOL .

We are getting SO close! I'm so excited to be nearing the end of the road!

[justbroke]

It is typical that the Chapter 13 Standing Trustee will not pay the unsecured creditors until the end; or close to the end. If they are entitled to distribution, they will receive a percentage. The percentage for unsecured creditors is usually adjusted throughout the life of the Plan. The "percentage payback" is not something that is "confirmed" since you just pledge all disposable income to the Plan. So I wouldn't really concentrate on the percent payback at all.

It would be cool, though, to get money back!

Congratulations on making it through your Chapter 13. It is an accomplishment that very few can claim!

[lrprn]

You will receive any monies left over after your trustee audits your case financials. Your confirmed plan was to make X number of payments at $X amount. That's what your trustee will judge against when doing your case audit - not your payback %.

I can't speak for what will happen in your specific case, MOM, but in our case we were pleasantly surprised to receive a check for several thousand dollars from our trustee after we made our 60th payment and our case was audited and discharged by the court.

[katztoo]

You will receive any monies left over after your trustee audits your case financials. Your confirmed plan was to make X number of payments at $X amount. That's what your trustee will judge against when doing your case audit - not your payback %.

I can't speak for what will happen in your specific case, MOM, but in our case we were pleasantly surprised to receive a check for several thousand dollars from our trustee after we made our 60th payment and our case was audited and discharged by the court.

Irprn_ Did you have a 100% payback to unsecured creditors? Our case is sappose to go until July 2012 but our secured and the 1% agreed upon will be paid off in Dec. I figured the excess will go to the unsecured?

[MOMof3]

They have paid our 6% off to unsecured already, they finished in July and have made no further payments to them. The car and IRS have been paid in full, the car in year one and the IRS in year 3. My guess has always been that they will up the 6% and give the rest to the unsecured, but they just are waiting until the end and doing it in one fell swoop....I would be very happy though to get a check but I will not be expecting one!

[MOMof3]

Update, well, 13network now shows my payback at a higher rate, so I guess that extra money is going to get sent out to my creditors! It also says "case about to close" and that excites me!!