Payment Plan

[chloe0724]

Ok, So the reason I'm here is because my husband and I took on debt that could not be paid for on one income. Well my husband has had major heart problems and surgerys over the last few years and because of that, we are now having to file chapter 13. My attorney has not given me a % of payback, but I know it's not 100%.

My question is, how close to your first payment plan that you entered to the trustee did your actual plan end up being?

Thanks

[woeisme]

My trustee accepted out initally proposed payment, so we are paying identical to our first payment. (We've only been in our plan for 7 months now, but were confirmed at the original amount.)

[chloe0724]

I hope that's what mine will do. They payment that the attorney has worked out is very doable. It gives us a chance to get back on our feet.

I feel so scared though because a lot of things I have read seem like they take every last penny. I was under the impression that the whole point of bankruptcy was to help give people a fresh start. That doesn't always seem like the case with a 13.

[lrprn]

Our Ch 13 is not the norm - our case was complicated with two trustee objections and one creditor objection - but when the dust settled, we ended up confirmed with a payment $150 higher a month than the figure we proposed at the start. All's well that ends well

[qwertysue]

Ours got bumped up a really small amount, due to a simple math error. The new amount wasn't more than 20 dollars a month.

As far as taking every last penny, they do. But that's why it's so important to have your schedules filled out smartly by an attorney who is familiar with the trustee(s) and local norms. A good attorney will create breathing room within the proposed plan.

[test]

Our plan was bumped up allot, but our Lawyer had us overestimate everything. We originally tried for $650/month and ended up at $1400/month. We did not have to provide tax info or refunds to the trustee during the time period. Best thing we ever did....Oh,,filed in 03 and completed July 06.

[shadowb]

Just curious. We should get confirmed in May. Our attorney wanted a continuance as she wanted to amend some things. Our case is a little complicated. We are paying a lot of money and are crossing fingers it won't go up. Since we started paying into our plan, we have had an increase in our monthly medical expenses, as right when we were filing Chapter 13 it was discovered that I had a suspicious area on my mammogram. At the time we weren't sure as it was just discovered the week before we filed and I wasn't able to see the specialist until after we filed our papers. Anyway, I was curious...after confirmation, what can we expect regarding our plan payments, i.e. will they increase drastically or remain the same throughout the five years.

[lrprn]

...after confirmation, what can we expect regarding our plan payments, i.e. will they increase drastically or remain the same throughout the five years.

Once your payment is confirmed, unless something happens to change your income or your expenses considerably and permanently so you have to file an amended plan, the confirmed payment is what you pay until your plan ends.

[chloe0724]

What would a considerable change in income be?

[test]

I believe the paper work said above 10%...