Chapter 13???

[kcsmom76]

My husband and I filed Chapter 13 in June 2004. We make payments of almost $600.00 a month. I logged onto our account on the NDC and it shows that interest is being paid to our secured accounts.

My problem is that by my calculations of the time with have left remaining we should only owe around $13,000.00. But the computer shows us owing as of now $15,200.00.

I thought the interest would stop when I filed chapter 13. Does anyone know why this is showing like this??? Will I have to keep paying being the number of months we were scheduled for??

Thanks in advance.

[SinkingFast]

Based on what you've said, you're in a 5 year Ch 13 Plan scheduled for completion in 2009,.......... Right??

Trustees don't always pay-out on a timely basis. Especially since we've had the Holidays recently. When you looked at your plan payment schedule on NDC, did you happen to note if everyone has been paid recently?? Is there possibly funds there that have not been distributed yet??

That may account for some, or all, of the discrepancy between your calculations and what the NDC shows.

[kcsmom76]

All of the money in my account gets paid out every month on the last day of month. I have $.01 in there. So my trustee is pretty good about paying out the money on time. Thank goodness. LOL!!!

The line I am referring to is Prinicpal owed column. I hope this helps.

Thanks for your help.

[SinkingFast]

Hummmmmmmm............

Well, KCS,............ You're gonna have to wait for someone more knowledgeable about Ch 13 than myself.

But never fear,.......... There are folks here who most likely know the answer to your question!!

[kcsmom76]

Thanks, SinkingFast!!!

[lrprn]

All of the money in my account gets paid out every month on the last day of month. I have $.01 in there. So my trustee is pretty good about paying out the money on time. Thank goodness. LOL!!!

Lucky you! Not all Ch 13 trustees are so consistent!

The line I am referring to is Prinicpal owed column.

Does your PACER account agree with your NDC 13Network figures?

[kcsmom76]

I haven't checked on the pacer account. Doesn't it cost something??? We just don't have ANY extra for it.

[lrprn]

I haven't checked on the pacer account. Doesn't it cost something??? We just don't have ANY extra for it.

The cost at PACER is 8 cents ($0.08) for viewing each chargeable page. If the initial page that comes up after you click a section link doesn't indicate there's a charge, then the page views for that area are free.

The key to keeping your PACER charges at the minimum is to be careful to look ONLY at your own case. To see your trustee payments and an accounting for all your creditors, You want to see the payment history pages - likely no more than 2-3 pages even after a few years on Ch 13.

PACER doesn't send you a bill until you until you reach $10.00 in charges - that's 125 chargeable page views. I check our PACER account once a month the first week of the month to be sure our trustee payments are the same as what I see at 13network. Since we are dealing with a trustee objection, I typically look at all the pages in my account just to be sure nothing new has appeared. It's been over six months and I haven't gotten my $10 bill yet

[aa06a47]

My husband and I filed Chapter 13 in June 2004. We make payments of almost $600.00 a month. I logged onto our account on the NDC and it shows that interest is being paid to our secured accounts.

My problem is that by my calculations of the time with have left remaining we should only owe around $13,000.00. But the computer shows us owing as of now $15,200.00.

I thought the interest would stop when I filed chapter 13. Does anyone know why this is showing like this??? Will I have to keep paying being the number of months we were scheduled for??

Thanks in advance.

Interest only stops on unsecured creditors. Secured is paid interest as agreed when you signed the contracts. Any arrears balances are often also charged whatever % the trustee is allowing. (Look at your trustee's website to see what interest rates the courts are charging these days) Also, be aware that as far as secured creditors go, you may still owe them money when the plan is complete. Only any balances that were in arrears will be paid in full.

[kcsmom76]

Thank you!!!