trustee in oklahoma city

[casdem1]

We filed yesterday and I am already overwhelmed with the amount we have to pay per month. We are behind 4 months on a very high house payment, so our pay back is up there. Does anyone have experience with the trustee in Oklahoma City? I might get a bonus in March and I really, really, want to keep it in order to pay $ back to a relative. I have heard we have to submit tax returns, but how close do they go over them? Thanks!!!

I am now thinking we would be better off just letting the house go back. Can we make this change even though we filed yesterday? Since this is the 4th, I won't be able to speak to my attorney until Monday and I am in a full blown panic!! Any advice or comments would be appreciated. Thanks!!

[MajorMike]

when your attorney looked at your income vs. expenses, there was disposable income to pay into the plan. What has changed since then?

[lrprn]

Casdem, two questions for you -

1. Were the four house payments you are behind included to be repaid over the years in your plan? (Typically this is the case - you aren't expected to pay these overdue payments yourself - you need to confirm whether this is the case for you with your lawyer.)

2. Are you able to make your NORMAL MONTHLY mortgage payment plus your monthly Ch 13 payment, and still pay all your other ongoing bills and family living costs?

[casdem1]

We will pay the house payment and the past due payments in the plan. We figured it up yesterday and even if we gave the house up, we would then probably go into a 100% pay back to other creditors, instead of the 30% we are in now. Once we paid rent, we wouldn't be much better off. We will just have to bite the bullet and do this. We did not tell the attorney about the money we owe relatives, so it looks like we have plenty to live on. But, when we pay them out of our monthly discretionary income, we will be struggling. I just wish I had filed a year ago, instead of borrowing money from relatives.

I really appreciate this forum. It is nice to know that I am not the only person in this boat!!

[lrprn]

We did not tell the attorney about the money we owe relatives, so it looks like we have plenty to live on. But, when we pay them out of our monthly discretionary income, we will be struggling.

Yikes! When you file bk, you are supposed to list every single debt you owe, including money owed to relatives.

How much did you pay back to each relative for the three months before you filed? The reason I'm asking is that if you paid above $600 to any one relative during the last 90 days before filing, that can be considered an insider preferential payment. Your trustee *might* be able to see that if he/she looks at your accounts for any reason and could decide to go after that money to share among all your creditors equally. Your relative would have no choice but to give up whatever you paid them to your trustee.

I'm not saying this is going to happen, but it is a possibility. And if the law of chances catches up with you, your filing could be declared fraudulent because you didn't include the money you owed your relatives on your creditors' list. Sure hope your trustee doesn't look things over too closely.