Our car was included in our Chapter 13...57 months at 675...the amount of payoff was 11,400...the lawyer got it to 9000...now I see a unsecured claim of 2400 bucks...how can that happen? what does it mean...I am 100% payback...so I am still paying the 11400...kinda confused...we were confirmed on Sept 6th if that matter
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It sounds like your attorney filed a motion to value the lien at $9,000. The remaining $2,400 is therefore unsecured debt. The motion to value lien is not very helpful to you if you are paying 100% of unsecured claims. It probably saved you some money in interest on the secured claim. Also, if you have a decrease in income and have to modify your plan and don't end up paying 100%, you'll be glad to have $2,400 less in secured debt.LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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