Base plan question

[helpsoneeded]

hi I have 6 months to go in a 5 year plan. Once the base plan is met, does that mean we are done?

[kornellred]

Generally speaking, a Chapter 13 plan base figure is the total amount expected to be realized when all of the plan payments have been received. For instance; if a debtor is in a 60 month plan and the scheduled payment is $500 per month and is not expected to change, then the plan base amount is $30,000. In most cases, the plan base is only met when the last payment has been submitted to the trustee and accounted for. This is not always the case, because situations change during the course of a Chapter 13 plan.
During my own Chapter 13 plan, one of my payments was processed over two weeks late, so I sent in another payment just in case it was lost - in order to avoid a possible motion for dismissal on account of non-payment. After the original payment was actually processed, it put me one month ahead. I sent in all of the remaining payments, and when I was finished with my plan, the trustee refunded the extra payment to me. My plan base amount satisfied the confirmed plan to the BK Court's satisfaction.

[spidge]

Upon filing were you under or over median? Are you paying back 100 percent to all claimed creditors? We would need more info and even then may not have the correct answer for you.

This question is specific to your situation and should be answered with a call to your attorney's office. I know that's not what you wanted to do, but it is the best source.