Trustee's Periodic Report of Receipts and Disbursments letter questions...

[lukesky]

I just got my first Trustee's Periodic Report of Receipts and Disbursments letter today (sent every 6 months) and I have some questions. I have been asking my attorney to no avail since August of last year and never got an answer till today. This letter states that I am in a "Terms of Plan: 36" month plan, never knew that till today. I thought it was 60 since I owe a total of $34,000 (less now since paying $350.00 each month for 6 months). So my question is what happens at the end of the 36 months when I barley paid off my secured creditors and maybe a small amount of 1 unsecured creditor and the other 6 not even started to be paid yet? (these creditors all filed and claim on time). Sureley the rest of the amount owed/creditors will not just vanish are will they? Please help. Thank you.

[justbroke]

It's too difficult to answer if you your plan base is $350 x 36 = $12,600 or not.

You'll need to refer to your Order Confirmation Chapter 13 Plan and/or speak with your attorney directly (make an appointment, but it may cost you $$$). Most Chapter 13 bankruptcy attorneys are "hands off" after confirmation as that is all that your retainer covers.

As you may know, if there is little or no money to spread among the unsecured creditors, then they get nothing. Typically, unsecured creditors are the last to be paid after all the other higher "priority" debt is paid, so they usually show with $0 in payments until the end (if there is money left).

[sophieanne]

If you are in a 36 month plan, you are very lucky, you'll be done before you know it. As Justbroke said, check your Confirmation order. At the end of the 36 months whatever is left is gone and you get to start fresh

[lukesky]

If you are in a 36 month plan, you are very lucky, you'll be done before you know it. As Justbroke said, check your Confirmation order. At the end of the 36 months whatever is left is gone and you get to start fresh

Thank you and I pray that is the way it goes.

[lukesky]

It's too difficult to answer if you your plan base is $350 x 36 = $12,600 or not.

You'll need to refer to your Order Confirmation Chapter 13 Plan and/or speak with your attorney directly (make an appointment, but it may cost you $$$). Most Chapter 13 bankruptcy attorneys are "hands off" after confirmation as that is all that your retainer covers.

As you may know, if there is little or no money to spread among the unsecured creditors, then they get nothing. Typically, unsecured creditors are the last to be paid after all the other higher "priority" debt is paid, so they usually show with $0 in payments until the end (if there is money left).

Thank you so much, only time will tell. I will check my Order.

[lukesky]

It's too difficult to answer if you your plan base is $350 x 36 = $12,600 or not.

You'll need to refer to your Order Confirmation Chapter 13 Plan and/or speak with your attorney directly (make an appointment, but it may cost you $$$). Most Chapter 13 bankruptcy attorneys are "hands off" after confirmation as that is all that your retainer covers.

As you may know, if there is little or no money to spread among the unsecured creditors, then they get nothing. Typically, unsecured creditors are the last to be paid after all the other higher "priority" debt is paid, so they usually show with $0 in payments until the end (if there is money left).

UPDATE:

I just check my Pacer account and I hope I can post this and get your opinion:
[IMAGE REMOVED FROM POST BY MODERATOR]

[justbroke]

it clearly reads that it's $350 for 36 months for a total of $12,600. That's your plan base. Any unsecured creditors that are not paid at the end of the 36 months, or after you pay $12,600, would be discharged.

I removed the attachment because it had things that could clearly identify you (such as the URL).

[lukesky]

it clearly reads that it's $350 for 36 months for a total of $12,600. That's your plan base. Any unsecured creditors that are not paid at the end of the 36 months, or after you pay $12,600, would be discharged.

I removed the attachment because it had things that could clearly identify you (such as the URL).

Thank you justbroke, your the best. I feel better now.

[sophieanne]

So gosh Lukesky, how many months left??? I'm glad you got a good surprise!

[lukesky]

So gosh Lukesky, how many months left??? I'm glad you got a good surprise!

I believe 30 sophieanne and thank you.