Question about calculating my base amount

[cbmmom5]

Hello,

I need help understanding the base amount of my plan. I would like to start this post by stating what I think is accurate and then go from there. I understand that the base is determined by the amount you pay monthly and not the amount of your claims. I understand that the base is the total of your payments and any additional amount you pay into the plan like your tax returns. I understand that the amount of your base actually increases when you turn your tax refund over to the trustee. I also understand that if your payment goes up your base goes up.

Does that mean if your payment goes down your base goes down?

Please help me understand.

Thank you very much

[LadyInTheRed]

Yes, according to the following article, the plan base will go down: http://www.bankruptcylawyer-texas.co...ase-explained/

Why are you concerned about this? The important thing is that you make the payments you are required to make.

[cbmmom5]

I must be doing something wrong when responding becuase my post is not showing up.

The reason I am concerned about my base is that I do not believe my para legal understands that the base amount can change if my payment goes up or down. The last time I had to modify my plan my expenses increased more than my income did so I expected my payment would go down. She stated that if my payment went down then I would not pay enough in the end to pay off my base. She actually reduced my expenses and as a result my payment went up. If I am calculating my income correctly my payment this time should go down by $100. I just do not want my payment to go up. I get paid bi-weekly so I only have 8 payments to go so I am seeing the ligh

[LadyInTheRed]

It sounds to me like you may have a minimum that has to be paid in your plan. Are you paying arrears on secured debt? Paying off a secured debt in full through your plan (common for a car loan)? Did you have non-exempt assets you have to cover in your plan? Taxes or child/spousal support? Has your attorney fees been paid in full? There also needs to be enough left for trustee fees.

[spidge]

Huge hugs, high five, and congrats on making it this far. 8 payments to go!!!!!!!! NICE!!!!!!!!!

If I were you I would ask your attorney for a payoff quote from the trustee. If they won't ask then call the trustee directly. I know it sucks to hear it but with only 8 payments to go I would be hesitant about asking for any further adjustments. Meaning suck it up. Are you able to follow your progress online? Are you receiving occasional updates from the trustee? I get one twice a year directly from the trustee. Our district focuses on the plan base but not satisfying the percent payback. I hate that but it does make sense as those who do not file a claim loose out and the rest benefit. That said your district may just accept what you pay in (Disposable income) over the required time period and let it stand as is.

Each District has slightly different rules so you have to make contact with your attorney and trustee to get the lowdown.

[cbmmom5]

Thank you for the feedback. The only reason I am worried about this is because I do not want my payment to go up when my expenses increased more than my income just becuase my para legal does not understand. I do not have any extra expenses that need to be paid. I think my case falls in the "normal" category.

By the way, I just found out that my payment will go up about $180

[cbmmom5]

Oops, I posted before I was finished. I will just suck it up with only four months to go I do not want to rock the boat at all.

Thanks