Discharge question

[Skouris]

Hi - I finally received my discharge after a delay of about 7 months. Since about August of last year, when the wage garnishment was discontinued, 13Network has shown a balance on hand of $300 and some. My plan was for 36 months and the percent to unsecured was 39%. I just noticed that about a week ago, after my discharge, the percent to unsecured went up to 40.1% and a final disbursement was made to the credit card companies, using up the balance on hand. So the last payment to the CCs was 7/07 and then nothing until these payments in 5/08. I know that since the money has been disbursed it's not coming back, but I'm just wondering if it's normal for your percentage to be increased after discharge and for your balance on hand to be disbursed to creditors? Thanks.

[catalina2225]

My plan is for 36 months and I would like to know if your wage garnishment stopped right at the 36 month mark? The 7 month delay in your discharge seems like a long time to me.

[Skouris]

I made sure that my wage garnishment was stopped. I contacted my attorney who filed a motion to have it stopped. I'm really glad I did, considering how long it took to get my discharge. I had a complication due to my mortgage payment increasing. The back and forth on that, including more motions and hearings, was part of the delay. The rest was just due to a very very slow moving system.

[itneverends]

Unless you are in a 100% payback plan, yes it is normal for the percent to increase. In April, my balanced owed hit $0 on a 67% payback plan. I have paid thousands into the plan since then and it is just sitting there. My understanding is that the trustee will not distribute any remaining funds until they have collected "all" the money and then recalculate the percentage and distribute atthe end.

I have read about others that have their percentage recalculated "on the fly" and updated as they go; but some trustess do not do it until the very end.

[Flamingo]

Our payback percentage at filing was 54%. After the audit at the end of our Plan, it increased to 64%. However, the Trustee also received a few thousand in inheritance funds from my father-in-law's estate (he passed away during our Plan) and we bought out early so we are not the norm. When the trustee audits your plan after the last payment, the percentage may adjust due to varying factors.

[busby]

I have read about others that have their percentage recalculated "on the fly" and updated as they go; but some trustess do not do it until the very end.

So I shouldn't worry that on 13datacenter that my creditors are listed as "100% of claim paid" and "scheduled amount" is within a few dollars of the "principal owed"?

... because these numbers may not be updated on a regular basis or even until the end of my payment plan?

[itneverends]

So I shouldn't worry that on 13datacenter that my creditors are listed as "100% of claim paid" and "scheduled amount" is within a few dollars of the "principal owed"?

... because these numbers may not be updated on a regular basis or even until the end of my payment plan?

busby- My 13datacenter has unsecured list as 67% under "% of claim paid" and my "principal owed" was equal to 67% percent of the "scheduled amount". But mine is going to adjust.

Based on what you wrote, it appears you are in a 100% payback plan. This means you will probably never adjust, they will not get more than 100% of claimed. I saw on your other post your monthly and total payments, what amount of claims actually got filed?

[funspot08]

Don't worry about it. Also, your scheduled amount is the amount of money that you and/or your attorney estimated that a creditor was owed when you filed. The claim amount is the precise amount that the creditor verified to the court that you owe and your percentage to pay back in the plan is based on that number.

[busby]

busby- My 13datacenter has unsecured list as 67% under "% of claim paid" and my "principal owed" was equal to 67% percent of the "scheduled amount". But mine is going to adjust.

Based on what you wrote, it appears you are in a 100% payback plan. This means you will probably never adjust, they will not get more than 100% of claimed. I saw on your other post your monthly and total payments, what amount of claims actually got filed?

I hope I'm not on a 100% payback because that would mean I misunderstood something.

My payments are about $222/month for 60-months for a total of $13,320. My attorney has a $3,500 secured claim and everything else is unsecured except for a single $50 secured claim for a Dell computer.

My unsecured total $108,697.85 but all are listed as their total amounts under "scheduled amount" and 100% "% OF CLAIM PAID".

Should I email my attorney and ask for clarification?

[busby]

Is is possible that since only my attorney has received an initial payment that the percentages for everything else just hasn't been calculated yet? I'm early in my plan (just made payment 7 out of 60) and was just confirmed late last month.

[busby]

Is is possible that since I'm early in my plan (just made payment 7 out of 60) and I was just confirmed late last-month - and the very first disbursement was just made (to my attorney) that the other claims have not been calculated yet?

[itneverends]

Should I email my attorney and ask for clarification?

I honestly would not worry about it. You know what your payments are, you know how long your plan is, the rest will just work itself out one way or another.

Just make sure you understand when your clock started, with the first payment (most trustees do) or with confirmation (mine did) and make the payments.

[rrockinggramma]

I wondered about my account balance growing every month. Guess I won't be banking on any refunds come November.