Owe more than car is worth and loan ending in 2 months

[angel2002]

We filed for Chapter 13 in March last year. My husbands car loan ends March/April this year. The problem is that when I called the lender in November they said the total amount needed to payoff the loan was $4,400. Doing the math that would mean that nearly $2,000 will be due at the end of the loan. On the Bankruptcy Petition it shows that we owed $5,476 on the loan and $1,476 as unsecured. I don't know if this means that the loan was "crammed down". Here is where I am confused as well as freaking out. I have no idea what's going to happen in the next 2 months. We have been making the regular payments but I don't know if this "unsecured" portion of the loan is what is getting paid out of the trustee payment or if that amount is something we are going to need to pay at the end of the loan? I am not sure we can come up with $2,000 in the next month just to pay off this car.

We did have some past due payments that were included in the trustee payment but I just have no idea what's going to happen at the end of this loan. If the only secured portion of the car is $4000 is that all we owe (which would be the 1 year of payments we have been paying)? I don't know if we continue to make payments in May or what the heck is going on. Any help or advice is welcomed.

[momofthree]

The trustee may have been paying other priority creditors for the past year. Have you checked 13datacenter.com to see how much the tt has paid towards the loan?

[angel2002]

We do have some priority creditors that are being paid out of the trustee payments. Thank you for mentioning the website! I did not know that even existed!!!! You'd think that our lawyer would have mentioned that important tool. I emailed our lawyer and after asking him 3 or 4 times he still didn't answer my question about what happens with this accrued interest. The only thing he said was that the past due payments were being paid out of the trustee. He simply said make the payments between filing and the end of the loan (April) and then the remainder would be paid out of the trustee. But again to point out ONLY the past due payments were included in the trustee payment plan. UGH! So annoying!! I will check the website and see what I can figure out from here. Thank you thank you thank you for your response!!!!

[angel2002]

Ok I just checked and the lawyer is right...only past due payments have been paid out of the trustee. UGH!!! Now I still don't know what's going to happen come April. So far there is only a few hundred dollars that are left on the arrears but still it doesn't help the whole "accrued interest". My guess is at this point is that we make all the payments up to April that are due on our end. Considering that the arrears are being paid out of the trustee then perhaps they will let us continue to make regular monthly payments to take care of this "accrued interest" that is due on the account. Afterall they are going to have to wait for the trustee to finish paying them off so coming after us for accrued interest isn't really going to do them any good.