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How to "read" NDC information

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    How to "read" NDC information

    I mostly lurk on here but I'm hoping someone can help me do the math and understand my Chapter 13 payments and step plan.
    Filed: May 2021 (first payment June 2021)
    Confirmed: Sept 2021
    Step 1: $450 June - Nov 2023
    Step 2: $740 (after a 401K loan is paid off) December 2023 - end

    First question is that under the step plan of the NDC site, it lists 30 payments at step 1 and 33 payments at step 2. But on the semi-annual report, it lists 60 payments (which 5 years... 12 payments each year... would make sense). Obviously those last 3 payments are a ways away but I'm still wondering about them. Is this an "error" on the site because my plan was confirmed 3 months after my first payment?

    Chapter 13 has treated me very well. I have an excellent lawyer who did a great job advising me (and I listened and implemented his advice) and I believe I have one of those trustees that ignores me because I make payments and submit my tax return on time (and timely notification of a job change). I do not have to give my tax refunds back. I consider myself a very lucky one given other stories I have read on here.

    I am sort of confused when it comes to how my payments are applied because a portion of my payments are going towards my one remaining student loan (this very much surprised me... I know the student loan won't get discharged but I'm thrilled that part of my trustee payments are going towards that debt and with the payment/interest pause under Biden, those are all principal!) Again... very thankful but this is part of why I'm trying to figure out what the numbers really mean when it comes to the payment reports.

    Is there a way for me to tell from these reports how the step (increase of $390 per month) will be applied to the creditors? I'm very interested in whether the $127 going towards my student loan will increase (maybe double?!?). I think I'm confused by some of the titles of these columns and how the different debts are treated.
    (Per the report)
    Plan Percentage: 18.5135
    Number of Months in Plan : 60 (again confusing with the other step page that lists 63 payments)

    Each debt has a claim amount, total principal (these are generally different numbers for the unsecured so I'm guessing this is the amount the trustee decided would be repaid?), Paid in period, Unpaid Balance, Currently reserved.

    Is the "unpaid balance" the amount that will be eventually disbursed to that particular creditor for the entire length of the plan?

    I have read on here people finding mistakes when it comes to the final payments and such and I'm wondering if there is something in particular I should be looking for to make sure it's on track and I'm doing whatever I need to do to ensure a smooth next 3 years and finishing this with flying colors.

    Thank you in advance so much for the advice.

    First suggestion is don't use the NDC for anything other than seeing what the Trustee has paid. Not all Trustee use the NDC and may use a different aggregator. Those aggregators would then post information into NDC. Think of the NDC as just a collection of information and the Trustee may use some other system (Such as TrustWin or 13Network). It's best to determine what system your Chapter 13 Standing Trustee uses for managing the debtors.

    That is not to say that the NDC is not reflecting what is in the other systems. It's just that I only used NDC to check on what checks have been paid and to look at the plan base. I used Trustee13 because my Trustee used Trustee13 and everything was accurate there.

    Your Trustee decides how and when to pay unsecured creditors. There are Trustees that will pay them some nominal amount ($10/month), and then do lump sum payments towards the end. Other Trustee will pay off all the secured debt first with massive lump sum payments before they send one penny to the unsecured creditors. For example, they paid my vehicle off in 9 months although it had a 5-year note. It happens.

    Plan percentage means absolutely nothing... unless you're in a 100% plan.

    Again, don't try to make heads or tales out of NDC. Use it only to see the checks and maybe the plan base. Find out what your Trustee actually uses to manage the case.

    Your Order Confirmation Plan is always the only true source. Mistakes in payment calculations are more on the rare side since the Chapter 13 Trustee looks specifically at the Plan Base and the projected plan payments.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.


      Thank you!!! That was very helpful.


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