My plan was confirmed last week! Now what?

[simon2020]

My 100 percent plan was confirmed last Wednesday.

Since one of the 30 creditors added attorney's fees (I was part of a lawsuit prior to filing.) The trustee upped my monthly payment $40 bucks.

Anyway - got 2 questions:

1. In the State of California, normally how long does it take for the BK courts to send me the "confirmed order" from the judge?

2. As stated above, I have 30 unsecured creditors and only 20 have filed a claim. (95 percent are claiming what I added to my petition - some have added small fees.)

Deadline for all claims is 8/1/09.

If I let's say 5 creditors don't file a claim by the 90th day (8/1/09), does that mean a) my monthly payment will be lower OR b) my total months could drop from 60 months to 36 months or so but I would still pay the same monthly amt based on my confirmation day?

I asked my attorney this question and he said he "was not sure" if the court would reduce the total months.

I need clarification and crossing my fingers no one else files a claim between now and August.

Any comment would help me greatly as I need clarification on this post-confirmation situation.

Thanks!

[justbroke]

1. In the State of California, normally how long does it take for the BK courts to send me the "confirmed order" from the judge?

(Not speaking for California, but...) The Order of Confirmation can take several days to several weeks. The Trustee is who writes up the Order and then submits it to the Judge for signature.

As an aside, I really don't like Districts that Confirm plans prior to the claim bar date.

2. As stated above, I have 30 unsecured creditors and only 20 have filed a claim. (95 percent are claiming what I added to my petition - some have added small fees.)

Deadline for all claims is 8/1/09.

If I let's say 5 creditors don't file a claim by the 90th day (8/1/09), does that mean a) my monthly payment will be lower OR b) my total months could drop from 60 months to 36 months or so but I would still pay the same monthly amt based on my confirmation day?

Generally speaking, your Plan stated that you submitted all of your disposable monthly income (DMI) to the custody and control of the Trustee. So, if your DMI is $500 and even if you only need to contribute $300/month to pay 100%, the Court can say that you still need to contribute $500/month, over a shorter period of time.

I asked my attorney this question and he said he "was not sure" if the court would reduce the total months.

Some courts stick to that "all disposable monthly income is submitted...". In those Districts, just means you are done sooner.