ok. our 341 was Feb 15th. 3 objections, one being our payment isn't what means test says it should be. My attorney was going to talk with trustee 2 weeks ago and try and figure out how to overcome objections. Haven't heard a word from her. Today on Pacer, there is an amended plan. Weekly payment shows the same but on the Unsecured Claims paragraph 7 it says:
Total unsecured debt is $135,148. After all other classes have been paid, Trustee will pay to the creditors with allowed unsecured claims no less than $228,789 or 1% whichever is great.
There has been no communication with attorney until today b/c I'm freaking out about what this means. She emails me (does not call still) and basically tells me she talked with trustee and amendments are in response to trustee objections and we should be paying 100% based on means test because that's the governing factor. The means test does not show the additional $650 per month we have to save to pay taxes at end of year. It also shows me making $1600 per month which I do not now. At 341, We talked with trustee about the tax issue and he said to start savings account for this and send in quartely statements to him. Nowhere is this in the plan as an expense.
She basically said our plan needs to 100% payback. That the $228K in the paragraph 7 is what our "pool" should be, so we should pay 100% because the unsecred debt is $135K. There is no way...none we could do this. At end of 341, she was going to talk to trustee.... I never heard a word of what was going on until today.
I feel like I'm losing it. This is already so hard. I've cut and cut and cut. We have a lot of high expenses (independant medical insurance, rxs, etc) FAmily of 5. What is weird is that if our plan payment is at 100%, that would be $3800 per month (including secureds and priorities) AFter taxes and payment, we would be living off $3770 per month for a family of 5. My regular bills are $3692. That DOES NOT include food, clothes, rx's...anything. She alluded to the fact that if we go before the judge it is likely they would rule 100%. If I had that much money, we wouldn't filed in the first place. I've given back the luxery stuff (motercycle,jetski) I've given back my house. I cut daycare in half. I've cut cable/phone.
So what now? Hold fast and go before the judge. If they say 100% then we'll have to dismiss our case. Then I guess, have the extra $650 a month taken out of husbands pay...me not work....wait 6 months praying no one sues us or garnishes us... and refile then? If everything stayed the same regarding expenses, just those 2 things would reduce "disposable income" to what payment we just turned in.
I guess I thought that yes, means test determines what is disposable, but also "actual" expenses are considered and there is negotiations to come up with something that is doable. I don't know if my attorney isn't negotiating or if trustee is standing on this means test disposable income.
Yes we are high income filers. Yes we have a lot of unsecured and secured debt. Yes we screwed up really bad and we're trying to do the best we can with this.....but I don't know what else to do.
OK. Attorney just called upset with my email (it was not really a happy nice one) and basically said that in talking with trustee he said he had no leeway and that it should be 100%. Suggested pushing back confirmation to see who files claims so that might help payment be lower. She also said that if we do have to go before Judge.....it's a very conservative Judge that normally rules for Trustee suggestion.
I hope and pray one day...and I have to believe this.... that we'll be out of this mess and looking back on it. Have to believe that.
Total unsecured debt is $135,148. After all other classes have been paid, Trustee will pay to the creditors with allowed unsecured claims no less than $228,789 or 1% whichever is great.
There has been no communication with attorney until today b/c I'm freaking out about what this means. She emails me (does not call still) and basically tells me she talked with trustee and amendments are in response to trustee objections and we should be paying 100% based on means test because that's the governing factor. The means test does not show the additional $650 per month we have to save to pay taxes at end of year. It also shows me making $1600 per month which I do not now. At 341, We talked with trustee about the tax issue and he said to start savings account for this and send in quartely statements to him. Nowhere is this in the plan as an expense.
She basically said our plan needs to 100% payback. That the $228K in the paragraph 7 is what our "pool" should be, so we should pay 100% because the unsecred debt is $135K. There is no way...none we could do this. At end of 341, she was going to talk to trustee.... I never heard a word of what was going on until today.
I feel like I'm losing it. This is already so hard. I've cut and cut and cut. We have a lot of high expenses (independant medical insurance, rxs, etc) FAmily of 5. What is weird is that if our plan payment is at 100%, that would be $3800 per month (including secureds and priorities) AFter taxes and payment, we would be living off $3770 per month for a family of 5. My regular bills are $3692. That DOES NOT include food, clothes, rx's...anything. She alluded to the fact that if we go before the judge it is likely they would rule 100%. If I had that much money, we wouldn't filed in the first place. I've given back the luxery stuff (motercycle,jetski) I've given back my house. I cut daycare in half. I've cut cable/phone.
So what now? Hold fast and go before the judge. If they say 100% then we'll have to dismiss our case. Then I guess, have the extra $650 a month taken out of husbands pay...me not work....wait 6 months praying no one sues us or garnishes us... and refile then? If everything stayed the same regarding expenses, just those 2 things would reduce "disposable income" to what payment we just turned in.
I guess I thought that yes, means test determines what is disposable, but also "actual" expenses are considered and there is negotiations to come up with something that is doable. I don't know if my attorney isn't negotiating or if trustee is standing on this means test disposable income.
Yes we are high income filers. Yes we have a lot of unsecured and secured debt. Yes we screwed up really bad and we're trying to do the best we can with this.....but I don't know what else to do.
OK. Attorney just called upset with my email (it was not really a happy nice one) and basically said that in talking with trustee he said he had no leeway and that it should be 100%. Suggested pushing back confirmation to see who files claims so that might help payment be lower. She also said that if we do have to go before Judge.....it's a very conservative Judge that normally rules for Trustee suggestion.
I hope and pray one day...and I have to believe this.... that we'll be out of this mess and looking back on it. Have to believe that.
Comment