This just sucks big time!

[arkienurse]

Just logged onto my trustee's website to see the status of my payment for March- this is the month that we SHOULD have paid off both vehicles, DH's truck completely and the secured portion of my van. Well, my payments didn't arrive in time, so only half a payment was made. This means that we owe 70 on the truck and 100 on the van, instead of having them paid off.
On the plus, next month's payment will be close to double and will mostly go to the unsecured debt, so I will feel like we are finally starting to roll.
I actually have 2 payments in the pipeline right now, one is from the extra payperiod in December. It seems to take 2 weeks for them to arrive and post, so I have figured that the extra payment from Dec will actually be realized sometime around April.

[SinkingFast]

I hate that for you Vicky. It must be excruciating going through a ch. 13 for some. I'm amazed people with huge amounts in a 401k aren't subjected to 13's. I mean if you have 5 times the amount of your debt, then you actually have the money to pay back. Because it's a retirement investment and cant be touched puzzles me. But go after joe and janes few thousands of dollars in home or auto equity. Jeesh what a crap system!

I hear that CH!

We cashed out Hubby's retirement IRA to pay off debt. We've used up all our personal savings as well. We are BROKE.

Every attny has said they wish we'd have come to them a year ago. They coulda saved us thousands of dollars. The IRA woulda been totally exempt. Untouchable. Instead, the money is gone trying to pay bills, we still have tons of debt, and we owe the IRS tons in income tax for having cashed out the IRA to begin with.

Just keep saying to yourself, Vicky, "It has to get better. It has to get better."

Wonder why the lag in posting your payments?? Are you mailing them in or are they debited direct from your pay check??

[13inOR]

I noticed the same thing when I check the NDC website. I get paid every other Friday and the bk payment is taken from my checks. It seems to take a couple weeks after each pay date for the trustee to receive the money from my company, and then sometimes a couple more weeks by the time they disburse.
So I think thats fairly normal if its taken automatically from the paycheck. We just paid off our 13, and they are still taking my money---that seems to take a few weeks to go into effect as well. Oh well, the trustee will just owe me a nice refund, it will be nice to have him owe ME money for a change! LOL

[arkienurse]

Wonder why the lag in posting your payments?? Are you mailing them in or are they debited direct from your pay check??

They are debited directly out of my paycheck everyother week. They usually post on my trustee's website the week that I am being payed again, in other words, they show up about 2 weeks after they were made. And the website usually shows that they were actually there the week before, but just didn't show up yet. So I didn't really worry until this morning, when it showed my account balance on hand as 0, and the amount last paid out as 588, which means that the other payment hadn't shown up before they paid out. Thank God it isn't something that can be blamed on me personally. Do think I will call the trustee's office Monday and see if there is a problem brewing.

[arkienurse]

Well, I finally today got home before the trustee's office closes. They still haven't seen my 2 payments that should have posted by now. To my surprise, the trustee office says that my employer MAILS in my payments. I had just assumed that in this day and age they were transferred magically without the use of the postal system. I have called the payroll department to find out if there is a problem on their end, and they are supposed to let me know.

[SinkingFast]

Odd.

You'd think if the Court system was gonna use auto debit thru payroll, they'd have a "bank acct" established for direct deposit of plan participant payments.

It would be nothing to do. Many companies pay by direct deposit these days. The companies could just divert a portion of the pay to another account.

And why would it take 2 weeks to get there and be posted showing as paid?? I'd bet if you could mail something to the business or person right next door, it would get there quicker than that.

I think it's just one more way for Trustees to have the money in their hands. They deposit the funds into their accounts and collect a couple week's worth of interest before disbursing the funds to the Creditors.

[arkienurse]

Just checked on my trustee's website. My payments are finally showing up. Both showed up on March 3 but posted today to the website. So now I have my entire payment for April already with 2 more paychecks before the end of the month. Gives me a great feeling of relief.

[aa06a47]

WHy worry about these types of things? Am curious, why is your payment doubling?

[Minnymouth]

I have to agree on the issue of Trustee's making interest off our payments before they are disbursed to the creditors.
Money is withdrawn from your payroll or account in weekly payments. Sometimes it is weeks before the creditor actually gets paid (many creditors have tried to stop the Chapter 13 for this reason - the Trustee pays THEM when he GET READY TOO...)

So I imagine they DO make a nice chunk off of interest off your money before they pay the creditors........

NOT THAT THEY DON'T MAKE ENOUGH ALREADY......DUH!!!

My thoughts,

[aa06a47]

Yes Minnie, I agree it kinda sucks the trustee makes a little more on us with the interest they get from the money they deposit, but I don't think it is something to get worked up about. Gosh, we are all under enough stress these days because of our BK to add the stress of worrying about these things.

[arkienurse]

WHy worry about these types of things? Am curious, why is your payment doubling?

Well, it really isn't doubling permanently- here is how it is- I get paid every 2 weeks. That means that twice a year I have an extra paycheck. This year I had one in December which was really nice. The trustee still takes payments out of these extra payments. But the way my payments show up to the trustee's office, that extra payment still hasn't shown. I figured up and expect it to hit sometime in the next few weeks. So since my employer got behind on sending in the payments and caused March's payment to be half of it's normal amount- If that extra payment should hit the trustee's account before April 1st, and if my payment from my last paycheck makes it in like it is supposed to, then I will effectively be making a double payment, but only for April.

Confused????????? Imagine if you were inside My brain right now.

[aa06a47]

Well, it really isn't doubling permanently- here is how it is- I get paid every 2 weeks. That means that twice a year I have an extra paycheck. This year I had one in December which was really nice. The trustee still takes payments out of these extra payments. But the way my payments show up to the trustee's office, that extra payment still hasn't shown. I figured up and expect it to hit sometime in the next few weeks. So since my employer got behind on sending in the payments and caused March's payment to be half of it's normal amount- If that extra payment should hit the trustee's account before April 1st, and if my payment from my last paycheck makes it in like it is supposed to, then I will effectively be making a double payment, but only for April.

Confused????????? Imagine if you were inside My brain right now.

LOL!! I was born confused. Thought maybe the trustee adopted the credit card company thing and doubled payments! LOL!!!