ch.13 question

[maddog2112]

Has anyone ever got kicked out of ch 13 and if so,what happened? I`ve been paying for a year and a half on a 75% payback plan.It`s been tough and I`m planning to continue, but sometimes I just wonder what would happen and would I be able to negotiate smaller settlements with the collection agencies that my trustee has currently been paying at 75 cents on the dollar.Thanks for any help!

[rrockinggramma]

well you could owe a lot more than you do now. Many creditors will go back and add in late fees, penalties and interest etc. In addition, I am sure not all of your creditors filed a claim. You would owe them also. A dismissed chapter 13 is still on your credit report. A discharged one means you made it through to the end, a plus from a future creditor's point of view. Just my 2 cents. . .

[maddog2112]

Thanks rockin gramma, I guess I`m just a little nervous as I`ve got to send my yearly taxes and refund in to my trustee before the 15th of May.I made a substantial amount more this year than when I first filed and I`m fearful of my monthly payment going up.My expenses have gone up quite a bit and I`m not sure how the trustee will look at it all.Every creditor did file a claim, and I`ve paid 30,000 including the refund I`m turning in this year.70k left to go.I`ll keep you posted! Thanks for your help.

[rrockinggramma]

well I can't speak for what your trustee will or won't do but I know in the Eastern District of Michigan, the trustee's are just overwhelmed right now with the new amount of filings. I know their staff sorts through the tax returns etc and credits the refunds, but I would bet that if your refund is turned over like it is suppose to be etc, you will be ok. Trustee's have more to do right now than nit pick over increasing someone's plan (who is well into it)