Post conf review

[tmaire]

I just cheeked my Chapter 13 account on my trustee's website and it had this notation?

August 16, 2007 Post conf review

I filed on 11/15/06
Confirmed 04/09/07

Does anyone know what this means?

Is it normal practice for the Trustee to do a Post Confirmation Review several months after a plan has been confirmed?

Thanks,
T.

[SinkingFast]

It's probably just an Administrative notation. Maybe took a while because the Trustee handles lots of cases.

In our Court, about 30-40% of all BK's filed are Ch 13's. While there are 2 Ch 7 Trustees, there's only 1 Ch 13 Trustee. So that's one office juggling a lot of people's cases.

[tmaire]

It's probably just an Administrative notation.

Thanks,
I hope that is all it is. Have been making payments since 11/06,
and they just made the first payment to attorneys 08/01/07.
So hopefully everything is going as planned.
T.

[CityGirl]

This is one reason why I don't think I'll check things.....LOL
I'll stress myself out!

[SinkingFast]

Thanks,
I hope that is all it is. Have been making payments since 11/06,
and they just made the first payment to attorneys 08/01/07.
So hopefully everything is going as planned.
T.

I've noticed many people comment on the Forum that their Trustees lag in making payments on behalf of their Plans. Don't let that worry you.

When Creditors get paid, while you're in Ch 13, is between your Creditors and your Trustee. And the Creditors aren't going to go up against the Trustee for being "late" with your payments. Creditors get their money when the Trustee disburses it.

All you have to worry about is making your Plan payments on time. Let the Trustee take care of the rest.

[tmaire]

Thanks for the replies. I’m not really worried about when/how/why the trustee makes payments.

I guess I am just concerned that something will happen and the trustee will require and increase in my payment.

We have to send in our income tax returns ever year and my attorney says we have to resubmit expense schedules yearly as well. I am afraid that if the trustee sees an increase in income she will see additional “disposable income” and it will all have to go into the plan. With 3 kids any extra money sure would be helpful.

But I’m not complaining. I am thankful for this fresh start.

Guess I will just have to wait and see what happens.

CityGirl- Yeah, it is pretty stressful, but I think it gets eaiser.

Thanks,
T.

[SinkingFast]

Since you have to submit your taxes yearly, you certainly don't want to get a huge refund for the Trustee to seize. Here's a link for you to help monitor what you might expect in the way of a refund. It's an IRS Income Tax Withholding Calculator:

http://www.irs.gov/individuals/artic...=96196,00.html

You can adjust your withholdings/dependents thruout the year to keep your income tax refunds low.

And with the way prices are going up, I don't see how any modest increase in pay could result in increased Plan payments.

I know it's a pain, but you might want to hang on to sales receipts from purchases. File your paid monthly bills, your insurance premiums, car maint/repairs, and such. Be able to document your yearly expenses as you resubmit each time to the Trustee. Use Quicken, or Excel, or a ledger style notebook. Whatever works for you. To track your expenses. Category by category.

[tmaire]

[lrprn]

I know I really have to get a budget in line. Unfortunately not being able to stick to a budget is part of the reason I got myself into this mess in the first place. So this really is something I have to force myself into.

Here are a few good links that explain how to create a first budget, T:

http://www.wikihow.com/Create-a-Working-Budget

http://financialplan.about.com/library/howto/htbudget.htm

http://www.nolo.com/article.cfm/objectID/615A0045-C345-42E8-B921681B70D99A44/213/208/218/ART/

Hope this helps! Do come back and tell us what you decide to do because a solid working budget is a major key to a successful Ch 13 - we can all use your insights about that!