Trustee Statement

[tfabian]

We are in the 14th of a 60 month plan that had about 50% being paid. Today we received our end-of-year statement from the trustee. On it, there were two categories. On of them had what was claimed by the various creditors and another category showed what amount has been paid to each thus fdar. Many of the categories had "$0.00" shown in the amount claimed. This has made me wonder if these creditors never filed claims. The amount still owed totals around $26,000. We are paying $800/mnth. My question is, if we pay this $26,000 are we done? Can we be discharged? Even though this amount does not reflect 100% of what was filed, it appears (If I read things right) it is what was 100% claimed.

Thank you

[rrockinggramma]

Many creditors do NOT file claims in a chapter 13. I only had a few actually file a claim. What happens it that those creditors who DID file a claim will get more money. So your plan will probably run the 60 months. Now in your case, you should look at who actually filed a claim and who didn't. And also add up the TOTAL amount of the claim filed. Then divide that by your 800 a month payment. If it is less than 60 months, then you are in a 100 percent payback plan to those creditors and at the end everyone else is discharged. And if you can pay back those who filed a claim in less than 60 months, then you will be discharged early. In my case, I was scheduled to pay back 10 percent, the trustee raised it to 35 percent after all claims were filed (bar date passed and he saw how many filed) and then last fall, I had paid back the 35 percent, he raised it to 61 percent to keep me in the plan 36 months But if you pay off the creditors who filed a claim at 100 percent before the 60 month mark, then you will be discharged early.