Paid Principal owed, now what?

[Rocket]

[PI_Lvr]

My trustee here in eastern virginia tacked on 10% of claimed amount as their fee. On top of that there is the interest due to creditors that are being paid 100%. I had claims for over $85k but when I inquired about a 100% payback the total went to over $96k. If you have questions, call your trustee. I was hesitant to call, but when I did, they were VERY helpful.

[SinkingFast]

Attnys get paid the remainder of their fee out of the plan before any Creditors do.

As PI mentioned, the Trustee charges a % as an Administration Fee.

Trustee's generally pay out payments once a month. So if you send in your plan payment the beginning of the month and the Trustee makes payments the end of the month, your money sits in the Trustee's acct, earning interest, until the Trustee distributes the payments.

[Pumpkin729]

My trustee here in eastern virginia tacked on 10% of claimed amount as their fee. On top of that there is the interest due to creditors that are being paid 100%. I had claims for over $85k but when I inquired about a 100% payback the total went to over $96k. If you have questions, call your trustee. I was hesitant to call, but when I did, they were VERY helpful.

I thought all interest stopped once you filed BK???? How does 85k go to 96k?

[PI_Lvr]

Because of fees associated with filing...
10% of claimed amount - Trustees Fee ($8600)
Interest on Secured Loans being paid 100% ($1900)

I was totally floored when the Trustee's Office told me what the final payoff was going to be, especially when you see in The National Data Center that the Trustee is getting 5.9% of your monthly payments. That's just for now. THey'll get theirs totally, later.

[aa06a47]

Because of fees associated with filing...
10% of claimed amount - Trustees Fee ($8600)
Interest on Secured Loans being paid 100% ($1900)

I was totally floored when the Trustee's Office told me what the final payoff was going to be, especially when you see in The National Data Center that the Trustee is getting 5.9% of your monthly payments. That's just for now. THey'll get theirs totally, later.

My trustee fee shows up as 9.09%. My trustee must be a little more greedy.

[arkienurse]

My trustee fee shows up as 9.09%. My trustee must be a little more greedy.

Wow, my trustee fee is 4.5%. But my lawyer fee is 10%.

[lrprn]

Here's the listing of the % each trustee is allowed to charge as an administrative fee by state and judicial district - http://www.usdoj.gov/ust/eo/bapcpa/mt/ch13_exp_mult.htm .

There's quite a range, even inside the same state. Lucky us - we live in one of the highest % districts - 9.5%...sigh...

[aa06a47]

Here's the listing of the % each trustee is allowed to charge as an administrative fee by state and judicial district - http://www.usdoj.gov/ust/eo/bapcpa/mt/ch13_exp_mult.htm .

There's quite a range, even inside the same state. Lucky us - we live in one of the highest % districts - 9.5%...sigh...

Great link, I'm kinda wondering why my trustee expenses are showing up as 5% on this link, but in the 13datacenter, it shows as 9.09%. Guess he needs some extra gas money to get to and from work this month.