My CH 13 was confirmed on 3/8/2010. In my plan 11K is a Priority claim to the IRS at 100%. I also have 150K in Unsecured that is listed as a 63% payback on my data center account. 60K of the Unsecured did not file a proof of claim as of Nov 1 2010. My account shows the "principal owed" as 62K total (at the 63% percent payback). My question- I am in a 5 year plan and at my current payback payments I will have paid back the 62K of "principal owed" in about 36 months-what happens after I reach the 63% payback- do they just get a higher percentage and I continue until I hit 100%?
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Jaxx, you will keep paying until you hit 100% or the 5 years of payments have been made, whichever comes first.Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions. -
That stinks- in the end, it didn't really how many CC failed to file a proof of claimComment
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If a creditor didn't file they don't get paid. You could reach the 100% mark sooner than the 60 months of payments.Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.Comment
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Not really. You were prepared to pay a certain amount for 5 years to be rid of the IRS debt and all of your unsecured debt forever. Assuming you make all your payments, you will still accomplish the goal, maybe in less time. What difference does it make if you pay 63% to all unsecured creditors or 100% to fewer creditors? You get your fresh start either way.Originally posted by Jaxx1369 View PostLadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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