I am confused.....

[plumbroke]

We started our chapter 13 plan in June 2009. My understanding was it was a 5 year plan. We received a letter today that had several pages to it. One was a "Notice of Final Cure Payment" for JP Morgan Chase Bank for mortgage arrears in the amount of $350.00. I understand that part of the letter. Also included was a page titled "Order Cancelling Wage Order To Debtor". It states "You are hereby notified that the order issued to you to pay the chapter 13 trustee is hereby cancelled. There is also a letter from the trustee that says "Please be advised the trustee has received sufficient funds to close the above case as complete. Above it has our chapter 13 case number. I went on the National Data Center and under Case Status it says closed-FRP. Under "Date Case Closed" it says August 12, 2013. Does this mean we are done with our chapter 13? I thought if we were in a 5 year plan we had to make 60 payments. My understanding was that it was a 50% payback because it shows 50.54% payback to unsecured.

This would truly be a relief if we are done. Unfortunately I can't get in touch with the attorney until Monday to find out if this is the case or not. Anyone out there have any idea? I'm just trying not to get my hopes up because I thought we had another 10 months to go. Thanks!

[LadyInTheRed]

Was your income below median? If so, your plan would be at least 36 months and no more than 60 months. It sounds like once the mortgage arrears got paid in full, your plan was complete.

If your income was above median, did all of your unsecured creditors file claims?

[plumbroke]

Not sure about the income but I know not all unsecured filed claims.

[LadyInTheRed]

If the trutee says your plan is complete and the court terminated the wage order, the plan is probably complete.

Either your minimum commitment period was 36 months, or all allowed unsecured claims were paid in full.

[angel7821]

That letter sounds like good news to me! Congrats on completing your plan.

[spidge]

Did you find out what the $350 stemmed from?

[LadyInTheRed]

Did you find out what the $350 stemmed from?

The OP said he understood that part of the letter. It reads like it was the last payment on the pre-filing mortgage arrears that had to be paid in the plan.

[spidge]

The OP said he understood that part of the letter. It reads like it was the last payment on the pre-filing mortgage arrears that had to be paid in the plan.

Thanks for the response, but I do not fully understand it. Will the $350 be paid by the trustee or is this notice stating that the debtor will have to pay it? If part of the arrears included in a 13 then it should be paid from those funds, right? This would then only be an advisory letter and the balance should be of no concern outside of the ch13 payments.

[plumbroke]

It was paid by the trustee.