Ch. 13 repayment amounts

[B65]

That is a lot to pay back on what you earn with dependents, with your mortgage, groceries, utilities, insurances, clothes,food how can they make you pay that much back?

[bklawn]

[QUOTE=dovette7;186235]Our monthly payment is $3170
We are from GA also. Husband made $182K a year
We surrendered our home, motorcycle, jetski.
Had $105,500 in unsecured claims(not counting the 2nd mortgage that will be unsecured of $41,000 after 1st mortgage sold house)
Had $24000 in secured claim defeciancy after sell

Plan is supposed to pay Unsecured 80%
Unsecured is $ $112000
Secured is $46500 (vehicles with interest paid in plan)
Priority is $14000
Plus attorney fee
Plus Trustee fee

I haven't heard anyone paying this much unless their home was included.
We got ourselves in a BIG mess and was almost a test case for our district because we were high income filers with high unsecured debt....bad attorney advise to NOT wait to file until my previous job had come off our last 6 months of income....looking back we may should have kept the house which would've lowered our payback percentage, but shoulda coulda woulda.... never would have gotten in our mess in the first place![/QUO

Hey , I'm from Georgia too. Why did you give your house up? Also how long did you have to pay..

we have a income of 148000
150000 unsecured
planning on striping my second on my house
which would make unsecured about 277000
despo. income looks like about 2200 per the attny..so payment about 2400 60 months..

[klandsb]

Casdem1... Just curious...When u say u " support two grandchildren ages 7and 5 and a daughter who has mental problems" do they live with you ??? Were u able to put any expenses down for them in your mean test ??????? I was wondering about your household size and such. It just seems that in reality with supporting all these people your income is not that high ... Honestly, I know my daughter also has some problems and I spend alot of money helping her and also my grandson but I have no choice...Family is very ,very important to me...

[coronaglen]

wow. well i feel kinda guilty after reading Dovette7.

We filed 13. We had 200,00 in cc debt. and a second of 225,00 that we stripped. But due to change in income our payment is 301 a month.

like someone else wrote previously. it is all about what is left over. we could have been a 7 but wanted to strip the heloc and keep the house.



3 payments down and 57 to go.

[ccfriend]

I have also seen the amounts differ based on how many things are included in the plan. I pay our mortgage and car loan outside of the plan.

[klandsb]

ccfriend.... Who decided what u paid outside the plan.?? I would like to keep my mortgage & car pmt out of the plan but attorney advises otherwise. I just dont understand why I would want it in there and add the trustee fee. I just feel better paying it myself ..That way I know its paid everymth and I still have control over some of my finances...

[coronaglen]

I don't know how it came about but i like it better this way. although i read some people had their cars paid off eearly due to being part of the plan. maybe because we had 5 years still to go on the car loans so it didnt make any sense. Maybe there has to be some cram down....????
I guess that is why some people have realy large payments. my 301 is for my heloc and cc debt.

[andy158]

WV filer with $118,000 unsecured. Crammed down $10,500 car balance to $5,200. Payments went from $375/mo to $100/mo paid out of plan. Plan payment is $486 bi weekly ($1,055/mo). Not confirmed yet, but attorney sees no problems. Wife and I combined income is $110,000/yr. Keeping house and rental house outside of plan as well as second car. Surrendered two motorcycles and boat (bought three years ago when both had good jobs). Filed due to economy and reduced wages in current jobs. Credit cards rate jacked , double/triple payment jacked and limits slashed. We could not sustain minimum payments ($3,000/mo). Lost most equity in houses. Was going to refi to pay unsecured debt, but credit score tanked caused by cc's made us high risk.

[Billssuck]

Only had $144 DMI and $4,500 in non-exempt assets thus a payment of $125/mo for 36 months. Mortgage (1st and 2nd outside of plan) and student loan outside of plan. Once we're through this, will discharge $107K unsecured debt.

[ccfriend]

ccfriend.... Who decided what u paid outside the plan.?? I would like to keep my mortgage & car pmt out of the plan but attorney advises otherwise. I just dont understand why I would want it in there and add the trustee fee. I just feel better paying it myself ..That way I know its paid everymth and I still have control over some of my finances...

My lawyer suggested I keep it outside of the plan because of trustee fees. Both my car and house were current.

[andy158]

Same here. Houses and cars were current and lawyer suggested to keep paying them as usual outside of the plan. The banks still get notice of your bk, but if you are making payment as scheduled you continue to keep the assets. Probably would suggest putting in plan if you are really upside down and/or facing foreclosures. Just my 2 cents worth.

[klandsb]

Actually I am current on hse, heloc and car.. I have 2 1/2yrs left on my car so I am thinking maybe the lawyer wants to stretch it out.. I dont because I will be paying on a 10 yr old car ......Dont think it could be stretched out because I havent owned it long enough...

[bklawn]

Payment plan

Hey I've seen several payment plans. One of the lawyers I've seen said that the trustee would make me and my wife pay back 75% of the unsecured even if the DMI is $1600 because we make too much money and our house note is above the means for our means test. My question is can they make you pay more than the disposable income.

unsecured is 272242 with 2nd stripped.. $3403 which is 75% The means test say $1600

house note 2332
Irs housing 1209


HELP>>>>>>>>>.................

[TooMuchCredit]

Hey I've seen several payment plans. One of the lawyers I've seen said that the trustee would make me and my wife pay back 75% of the unsecured even if the DMI is $1600 because we make too much money and our house note is above the means for our means test. My question is can they make you pay more than the disposable income.

unsecured is 272242 with 2nd stripped.. $3403 which is 75% The means test say $1600

house note 2332
Irs housing 1209


HELP>>>>>>>>>.................

Is that $2332 just your first mortgage?
They can object feeling you could move into a cheaper place and pay more into the plan. It also is a factor of how much your house is worth vs. what you owe on the 1st mortgage. If even after stripping you owe alot more than the house is worth, they will object.

Now as I have heard on here many times, the trustee doesn't have the final say. The judge does, but I believe it's extra cost in legal fees to bring the objections before the judge.

If you are in the Northern district, Sched J is important. Make sure B22C and it are in line with each other. They objected to my entertainment expense (under $100 per month) which is on Sched J and there's no such thing on B22C. They wanted proof of my medical expenses and charitable contributions. They also objected to my 401K contribution. Hopefully now that I have stripped the 2nd which brings my mortgage payment right in line with the IRS amount and the overall % to unsecureds has gone up as a result of the stripping, I'll get confirmed.

[bklawn]

Is that $2332 just your first mortgage?
They can object feeling you could move into a cheaper place and pay more into the plan. It also is a factor of how much your house is worth vs. what you owe on the 1st mortgage. If even after stripping you owe alot more than the house is worth, they will object.

Now as I have heard on here many times, the trustee doesn't have the final say. The judge does, but I believe it's extra cost in legal fees to bring the objections before the judge.

If you are in the Northern district, Sched J is important. Make sure B22C and it are in line with each other. They objected to my entertainment expense (under $100 per month) which is on Sched J and there's no such thing on B22C. They wanted proof of my medical expenses and charitable contributions. They also objected to my 401K contribution. Hopefully now that I have stripped the 2nd which brings my mortgage payment right in line with the IRS amount and the overall % to unsecureds has gone up as a result of the stripping, I'll get confirmed.

Well no the 1st is 2018
$314 for a rental that we must keep because it is my wife mothers house

the expenses is from the means test only.. we have not done any schedule yet.. the 401k contribution is 500 month.. I can drop that down lower if needed but it would just make me pay more taxes which would make my monthly taxes higher..

As for the house we have a first that is 268000... $2018 payment
just had a appra done Sat.. He thinks it will be less than that..

I could not sale it and they make anything on it.. also it would be better for me to keep paying on it cause the BOC is the mortgage owner for both loans.

the 2nd is 104000.. 724 payment

I dont have any problem paying $3400 for five years if I can get out of debt.. but the 100% payback for $272,242 is like $4600.. Can the trustee say pay 100%?
This is getting too deep.. The DMI does not do anything as I see it. explain.

We are in georgia Northern District.