Got my quarterly report from Trustee

[MajorMike]

Hey Guys,
We just got our quarterly report and it shows we only have 38 payments left. We only made 8 payments so how can that be? The only thing right now that is being paid is the Attorney, Car, and IRS. In fact, they paid down 4K of the car already in 8 months.
How can we only be paying for only 46 months when it says 57 months on our original paperwork?

[chloe0724]

Major,

i just had my 341 yesterday and before it, I had to sit through a 5 hour traiining class on being part of a 13. They said that unless you are in a 100% paynack, that the reports are never going to be accurate.

Sorry. You;re still stuck for the 57 months.

[itneverends]

Hey Guys,
We just got our quarterly report and it shows we only have 38 payments left. We only made 8 payments so how can that be? The only thing right now that is being paid is the Attorney, Car, and IRS. In fact, they paid down 4K of the car already in 8 months.
How can we only be paying for only 46 months when it says 57 months on our original paperwork?

What you probably are seeing is a "calculated" end date. They do that by taking the current claims in your plan at the agreed upon upfront percentage and calculate how long it will take to pay those off at your current payment. If claims come in less than anticipated, your "calculated" end date will be short of the original date.

The problem is that unless your upfront payback on everything is 100%, they are only going to increase the percentage paid out to unsecured. You are still going to make those last 9 payments and unless you hit 100% payback, those payments will go to increasing the payout percentage to the unsecured.