Listing of Claims Meaning

[iyunade]

I am in Ch 13. I am going through my listing of claims using the ch13 website; please can someone explain what these means:

Claim Amount

Principal Paid

Interest Paid

Scheduled Amount

Principal Owed

Thanks.

[lrprn]

I assume you are looking at your trustee's website on 13Network, and you are on the Claims section. Here's what these terms mean

Claim Amount

The amount your creditor told your trustee you owed them at filing

Principal Paid

The amount your trustee has disbursed to a creditor that counts as prinicipal

Interest Paid

The amount your trustee has disbured to a secured creditor that counts as interest

Scheduled Amount

The amount your trustee will pay the creditor over the life of your plan. Unsecured creditors will show the claim amount owed reduced by your payback %.

Principal Owed

The total amount of prinicipal that remains to paid to that creditor

[busby]

Scheduled Amount at 13datacenter.com

I've always wondered about the Scheduled Amount column at 13datacenter.com

On my SCHEDULED AMOUNT column has values very similar to the CLAIM AMOUNT column but I'm no where near a 100% payback - FAR from it actually.

For example - one claim is listed as this:

ECAST SETTLEMENT
CLAIM AMOUNT: $10,159.66
SCHEDULED AMOUNT: $10,148.00
PRINCIPAL OWED: $10,138.25

I'm paying $216/month for 60-months for a total payback of $12,960.

So if you take just the one claim listed above with a scheduled amount of $10,148.00 plus the $3,500 attorney fees in the plan and whatever the trustee fees work out to be - then that's easily the total of plan payments which doesn't take into account any other creditor.

I've just assumed that the scheduled amount is a "work in progress" and will change as time moves forward.

At least I hope that's the case!

[iyunade]

Thanks to every one for the response. Mine as it stands right now doesn't make sense to me because the numbers don't add up. I will wait and see how the numbers change over time.