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A Question about payment plan

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    A Question about payment plan

    There is a wonderful sticky thread about the percentage that someone pays during a BK 13, but I read it and I don't think it answered my question or maybe my brain just can't make sense of the language used. This is all new to me. I am just wondering how I can come up with an idea of what our monthly payment would be and for how long? Is there a page on NOLO that will allow me to compute the numbers and figure it out? I know there is a Means Test one can do, but is there a test for Chapter 13 payment? Probably not, but I am wondering so I thought I would ask.

    Thank you

    #2
    Your payment is your disposable income. Take your monthly income and substract your expenses mortgage if keeping home (otherwise rent), car payment, insurance, gas, food, clothing, medical, etc. Do not include anything that you are going to discharge, such as credit card bills. Anything that is left if what you owe each month.
    Now I have way over simplified it. All your expenses may not be allowed, you may have a minimum you need to pay due to assets, priority debt, etc. Your best bet is to schedule meetings with several attorneys to get an idea of what you are looking at.
    Filed CH13 - 06/2009
    Confirmed - 01/2010

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      #3
      Thank you!

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