Questions about Payment increase in Chapter 13 payment

[rexy]

I talked to my attorney yesterday. We were just confirmed yesterday. It was continued from our first court day.

My husband was without a job when we filed and now he has a job. We knew our payment might increase some, but I am very confused.

She mentioned the means test. I did not ask about what she meant. I did not know you needed a means test for chapter 13.

She said our payment would be 3550.00 per month, instead of 2735.00 per month. We have been paying for three months.

My totals claims are only 123000. When I do the math, it does not add up at all.

IF I pay that much over 5 years I have paid in $210,555.

Can anyone help me. I will call the attorney tomorrow, but she always takes a few days to get back with me.

Thanks,

Rexy

[keepsmiling]

The good news is that you won't have to be in bk for the whole 5 years. In fact you will cut the time down significantly
Once all your claims are paid you are DONE. It may take a while to figure out all the paperwork but any extra paid in will be refunded.
It's all about the dmi.
Congrats on the new job.

[walkthaplank]

What keepsmiling says. Also, the "means test" is meant to determine your Disposable Monthly Income (DMI). Regardless of your debts/claims, you will have to pay your full DMI until all of the claims are satisfied. Once that happens, your plan will come to an end.

[LadyInTheRed]

I did not know you needed a means test for chapter 13.

Technically, you don't. In Chap 7, you file Form B22A: Statement of Current Monthly Income and Means Test Calculation. In Chap 13, you file Form B22C: Statement of Current Monthly Income and Calculation of Commitment Period and Disposable Income. The forms are very similar and B22C is often referred to as the means test even though that is not really what it is.