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    Question regarding asset payments

    I'm about to call my attorney and ask a few other questions that I didn't know to ask, but I was wondering if someone could clarify this to me. When we went to my attorney's office to sign the paperwork, he made the comment that we would probably only have to pay about $250 for 10 months. My husband and I rent an apartment and don't have that much as far as assets are concerned. We just paid off our vehicle and the blue book value is around $3000 (old SUV) and our furnishings and such only value about $1500. Does everyone have to make payments when they file? How are the payments determined? I'm not sure how our attorney came up with $250. Our expenses are almost exactly what our income is.

    Our 341 meeting is scheduled for September 13th, but I was just curious as to how the amount is calculated.

    #2
    If your filing a chapter 7, it must have something to do with the fact that maybe not all your assets are covered by exemptions, and therefore to keep that asset, you will have to pay.

    But generally, its not common to have to make payments in a chapter 7. I would suggest getting a second opinion.

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