secured vs unsecured

[justbroke]

i pay $400 a month, IRS will be paid out in january. Trustee will divide the other 16 months of payments up between unsecured creditors? As of last month only payments were sent to the IRS from the trustee

I don't know the details of your Plan. The IRS debt usually has two components. A priority unsecured portion and a general unsecured portion. The priority portion you must pay over the life of your Chapter 13, and I'm assuming this is what will be completed in January. I do not know what part of the IRS' claim, in your case, is general unsecured, so I really don't know if any of the "unsecured" creditor pool money will still end up going to the IRS.

So, if your Plan has a "disposable monthly income" payment of $400/month (which doesn't seem right), then you'd continue paying that through the end of the Plan. What the Trustee is able to do, through the life of the Plan, is pay priority debt and secured debt at a faster pace than the 60 months. I believe this is what your Trustee did. So, your payment may still be $400/month through the life of the plan, as the Trustee just decided to pay the IRS sooner. This is a very common practice.

Since you earlier stated you are in a 0% plan, your lawyer would need to review all this and decide if he'll ask the Trustee to allow him to petition for a discharge to be entered after that January payment.

[joek]

yes i pay $400 a month. You said it doesn't seem right? Is it not enough ? More than enough on my end lol. I was kinda hoping that after reading what was left on the trustee report that was mailed to me under the "balance" , that was all i had to pay. Only thing left under "any balances is the IRS money left owing

[justbroke]

yes i pay $400 a month. You said it doesn't seem right? Is it not enough ? More than enough on my end lol. I was kinda hoping that after reading what was left on the trustee report that was mailed to me under the "balance" , that was all i had to pay. Only thing left under "any balances is the IRS money left owing

I just don't know. As I stated, have your attorney review your case and ledger.

[joek]

spoke to my attourney today, i was told that they realized the plan wouldnt be paid out in time so that is why it was objected to. After the objection, it was found that the IRS had made the error on the amount owed. It was almost $8,000 error. Glad it was objected to! Then I stated to my att. that after my plan was modified the IRS would be paid out this January, which is not a full 60 months. My att. said that was correct and that my plan would then be paid out. I assume that a plan dosent have to go the full 60 months according to what i was told today. It will be 46 or 47 month plan if paid out in january, does this sound like anything heard of before?

[justbroke]

spoke to my attourney today, i was told that they realized the plan wouldnt be paid out in time so that is why it was objected to. After the objection, it was found that the IRS had made the error on the amount owed. It was almost $8,000 error. Glad it was objected to! Then I stated to my att. that after my plan was modified the IRS would be paid out this January, which is not a full 60 months. My att. said that was correct and that my plan would then be paid out. I assume that a plan dosent have to go the full 60 months according to what i was told today. It will be 46 or 47 month plan if paid out in january, does this sound like anything heard of before?

It depends on so many factors. If your commitment period was 60 months, then you attorney would need to file a Motion to Modified Confirmed Plan to change it to a shorter period. The Trustee doesn't stop collecting money just because the plan base is paid back. They keep collecting for the term of the plan. That's why a motion to modify confirmed plan is necessary.

Ask your lawyer if he'll be doing that?

[joek]

wow, collect and hold for 14 months, nowhere to disburse it. Then reimburse it to me. Figure the system would be worked out bettter than that lol

[justbroke]

wow, collect and hold for 14 months, nowhere to disburse it. Then reimburse it to me. Figure the system would be worked out bettter than that lol

My only problem in saying that they may stop the collection upon request, is being tempered by... I still have no clue whether any unsecured creditors timely filed an allowed claim in your case.

If they did, the Trustee will in fact keep collecting. Don't trust the percentage, ever from 13DataCenter. The percentage payback in a Chapter 13 may fluctuate over time due to increased in DMI or things such as IRS refunds being applied.

I just can't make an informed decision in your case, because you have not confirmed if any unsecured creditors filed claims, and whether those claims appear in PACER and were submitted, without objection, prior to the claims bar date.

If you looked in PACER at the Claims Summary, and only the IRS is there... then you're probably done.

[joek]

says 0.00% will be paid to unclassified unsecured creditors. Top of the page states "so odered this 6 day of august 2006". I dont see anything other than IRS and lawyer on claims summary

[justbroke]

says 0.00% will be paid to unclassified unsecured creditors. Top of the page states "so odered this 6 day of august 2006". I dont see anything other than IRS and lawyer on claims summary

Wow, you may be able to get them to stop. Again, your lawyer "may" need to file a motion to modified the confirmed plan in order to change the length of the plan. That is the most prudent thing to do. He could also simultaneously motion to entry of order discharging debtor at the same time. (Of course, this is all dependent on local rule and procedure.)

[joek]

that was listed under"order confirming plan" on pacer. Was i looking at the correct order/plan?

[justbroke]

that was listed under"order confirming plan" on pacer. Was i looking at the correct order/plan?

If your plan was confirmed prior to the "claims bar date", then the plan may not have all of the allowed secured claims.

I would look at the "Claims Summary" link on PACER to make sure there are, in fact, no more additional claims.

[joek]

the only secured claim i had was IRS and only Priority claim was lawyer, i got the above info form pacer

[justbroke]

the only secured claim i had was IRS and only Priority claim was lawyer, i got the above info form pacer

Well, looks like you may actually be DONE! Contact your attorney and see if you need to do anything special (like a motion to modify the confirmed plan to change the plan length... and whether you need to request a discharge).