need some help understanding

[txmomof3]

I am almost 3 years into my plan- and I am just now finding out about the wonderful site of 13data center or whatever it is..

just went on there and looking around it shows my unsecured at 100% what does this mean???

does anything change once i reach the 3 year mark? (i am planned at 60 mths)

thanks

[HHM]

If you are nearly 3 years in, you must be old law chapter 13, correct?

If you are old law, you can buy-out your plan for the stated plan amount. If you already are at 100%, that doesn't seem like it would save you any money.

Unsecureds at 100% means that based on the number of unsecured creditors who actually filed claims in your case, there is enough money available over the life of the plan to pay those creditors 100% of what they are owed.

[txmomof3]

yes I am old law...


I understand what you are saying- but here is my problem
my husband is possibly switching jobs wich is going to reduce our pay greatly (to start out with- better for us in longrun)
does that mean there is a possiblity that we can lower our payment- we are already pretty much stretched in our income plan so to speak and at 60 mths.........

really stressed about this and wondering if husband should pass this opportunity for now....

one more thing-- how does my current mortgage payment being in the plan work......Im guessing that is what makes my plan base so high...
I do want my mortgage to continue to be in plan- that way i know they are getting paid..

anyway once again just looking for some wiggle room

thanks for helping

[HHM]

Why were you 60 months in the first place?

If your income does go down, you can file an amended plan.

[txmomof3]

we were only 36 to start with, then i got late on my mortgage payments so we put that new arrearrage in, plus our reg. payments
it then extended it to 60 months.......

so basically if our income goes down, they can more or less remove the 100 to unsecured, and then just pay the rest in the next 30 months? does that sound right?

I know it depends on our "extra" money, on how much the percentage may or may not be....