Originally posted by rrockinggramma
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I had written a long response to pa kettle and then my computer froze and it all got deleted 
But in essense of his 12 claims, roughly 37,000 is priority debt which has to be paid back at 100 percent. Then the non priority claims will get the rest. He had I think around 6500 listed in non priority. If no other creditors file a claim for him, then his total payback will be only the 42,000 figure he quoted. At 1065 a month that means he will be in his chapter 13 for about 42/43 months give or take and not the 60 months originally scheduled. And he would end up paying back 100 percent to those who filed claims. Now, if a lot more claims come in for the non priority, then this would all have to be refigured. But his payment will not decrease but the length of time he is in the chapter 13 COULD decrease depending on the numbers.
But in essense of his 12 claims, roughly 37,000 is priority debt which has to be paid back at 100 percent. Then the non priority claims will get the rest. He had I think around 6500 listed in non priority. If no other creditors file a claim for him, then his total payback will be only the 42,000 figure he quoted. At 1065 a month that means he will be in his chapter 13 for about 42/43 months give or take and not the 60 months originally scheduled. And he would end up paying back 100 percent to those who filed claims. Now, if a lot more claims come in for the non priority, then this would all have to be refigured. But his payment will not decrease but the length of time he is in the chapter 13 COULD decrease depending on the numbers.Don't forget the trustee cut of the pie. Creditor who don't file a claim get nothing. It was there responsiblity to file a claim. The payment plan is all disposible income, or in your case was figured as 1065/month. I'm assuming your now in a confirmed plan. Your payment per month will not change, however the lenght of the term will change. The creditors who filed a claim will end up getting more.
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