How did he do that?

[NowImDownInIt]

Trustee increased his percentage 1.2%... I am just curious how he is able to do that with my payment amount staying the same and not all of my claims in.. Is he just predicting that he will be able to?

[magyar123]

Maybe one of the creditors you listed never filed a claim. Trustee probably figured his take on the totality of your original filing, but when creditors don't beg your payment stays the same and he/she pockets the rest.

[NowImDownInIt]

I thought about that, but my first bar date isn't even until November 20th... so that would be a bit premature of him.

[Maximo]

Magy...you mean if a creditor doesn't make a claim say for 5,000....the trustee gets to keep that money for himself????

[NowImDownInIt]

See, I thought that meant that the amount paid to my unsecured's would go up, not the amount to my trustee..

[magyar123]

Magy...you mean if a creditor doesn't make a claim say for 5,000....the trustee gets to keep that money for himself????

No - the creditors who did file claims will get more, but so will the trustee.

[NowImDownInIt]

But that still doesn't answer why he upped his percentage so early. I haven't even had confirmation, let alone my bar date.

[rrockinggramma]

Trustee's regularly adjust their percentage. It isn't fixed in stone. Mine jusraised his from 4.7 to 4.8 but a year ago it was 4.0 I am sure the economy and cost has something to do with it.

[AngelinaCat]

Also it is after October 1--the start of the 2008-2009 Fiscal Year for many governments, businesses, etc.

[NowImDownInIt]

But where does the money to do that come from? If the plan base doesn't change how can they increase their slice of the pie without yet knowing everyone else's portions?

[itneverends]

But where does the money to do that come from? If the plan base doesn't change how can they increase their slice of the pie without yet knowing everyone else's portions?

The rate increase had nothing to do with your individual case or what is claimed, they apply the rate to all cases. Since 10/1 was the start of the new fiscal year, they probably adjust it every year at that time.

The increased rate will come out of the creditors monies, all that stuff you see about plan base, scheduled amount, ect. doesn't really mean anything. It is just the going-in point, it all gets readjusted at the end. Unless you are at 100% payback, you should not spend 2 seconds thinking about it.

You have to pay you payments for the next 36 months and as long as you do that you will be fine. The increase is less than $300 over the life of your plan and will not impact you at all.

[kornellred]

Take heart - Chapter 13 standing trustees are limited to earning $177,526 per year including benefits (whatever that means). That's probably hard to accomplish in, say...Wyoming...but it's a cinch here in New Jersey.

[NowImDownInIt]

Take heart - Chapter 13 standing trustees are limited to earning $177,526 per year including benefits (whatever that means). That's probably hard to accomplish in, say...Wyoming...but it's a cinch here in New Jersey.

I imagine it's a cinch here in Houston too.

[chloe0724]

It's for sure a cinch here. I live outside DC.

[hughthehand]

dont feel bad. my trustee gets 10% from the git go.