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At what point do you find out how much your repayment will be?

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    #1

    At what point do you find out how much your repayment will be?

    Hi guys~
    Well, we are getting down to the wire here and will be filing on Sept. 27th.
    I was told that we will go over all of the paperwork at this next meeting...so at what point will we find out how much we will be re-paying on the 13?
    Will the attorney be able to give us an idea how much we will be looking at in re-payment by the time of filing?
    I'm getting anxious and more frustrated all of the time...
    thanks for any insight~
    CAB
    Tags: None
    #2
    You will find out what your proposed monthly payment will be when your forms are finished. You will know what your actual payment will be when your Ch 13 plan is confirmed.
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !
    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

    Comment

      #3
      Try this for size

      I'm filling out a means test calculator at legalconsumer.com (really cool) to help me pre-determine if i should be eligible for a chapter 7 or chapter 13. I know my lawyer will do one anyways, but I want to see for myself.

      Catchmeifyoucan
      July 2006: Filed Ch13 :blink:
      Oct 2006: Converted to Ch7 :clapping:
      Jan 2007: DISCHARGED :clapping:
      Nov 2007: CLOSED :yahoo::yahoo::yahoo:

      Comment

        #4
        When you meet with your attny, you'll get a proposed 13 plan payment amount, as Lrprn said.

        Be sure to pay that first payment promptly. It will have to be paid before you go to your 341 meeting.

        After the 341, the Trustee may simply Confirm your attny's proposed plan, or he/she may make adjustments. Your Trustee and your attny may negotiate some back and forth before the actual payment is fixed. Just keep making your payments on schedule.
        Filed Ch 7 - 09/06
        Discharged - 12/2006
        Officially Declared No Asset - 03/2007
        Closed - 04/2007

        I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

        Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

        Comment

          #5
          Catchmeifyoucan-thanks for the legalconsumer site. That is soooo helpful : )

          Comment

            #6
            You Welcome

            By the way I'm filing in the state of virginia and at my 341 meeting I was able to give the trustee a check for the first (tempory payment) I say temporary because the trustee did not approve of my plan, and there was no going back and forth with the lawyer (he practically shut the lawyer up) - so he is sending us (lawyer and me) before a judge next week to confirm a plan. The Means Test proved I had no disposable income, but my real life shows I have more than I proposed, this is the gray area of the new law. I think I'm going to lose this battle. My lawyer is going to try to argue the new law in but I have a gut feeling, "they," don't care!

            Good Luck, Catchmeifyoucan
            July 2006: Filed Ch13 :blink:
            Oct 2006: Converted to Ch7 :clapping:
            Jan 2007: DISCHARGED :clapping:
            Nov 2007: CLOSED :yahoo::yahoo::yahoo:

            Comment

              #7
              this is all very interesting~ and nerve racking......
              thanks to all for the info, I do appreciate it!!

              Comment

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