Ch. 13 repayment amounts

[justbroke]

Yikes...I always thought the amount you are paying was a typo.

Trust me when I say this... I wish it was a typo too!

[Billssuck]

Exactly!

In other words, don't look at mine.

Yikes...I always thought the amount you are paying was a typo. We don't even make that amount every month.

[justbroke]

... knowing the Ch 13 payment amounts that others are required to pay tells you nothing about what you might have to pay...

Exactly!

In other words, don't look at mine.

[tbon]

We are a little more than half way thru our C13~
Mortgage~ was never late: pay outside plan, 860.00 monthly
Car~ was never late: pay outside of plan, 319.00 monthly

We pay 2345.00 monthly to trustee...
one of our cars was put into the plan, but they paid that off first so 9 months or so into the plan, that was taken care of.
Then we owed the IRS (the year we filed), so they paid that off FIRST as well...
now down to unsecured debt was just under 100K...

It's been a L O N G haul, and we still have 2+ yrs to go...
ALTHOUGH~ I noticed that the car we are paying OUTSIDE the plan, was figured into the 100% payback...so Im thinkin we will be out MAYBE 6 months earlier than what it actually appears...

I think we have a really good Trustee though~ we've been late a few times...but managed to get caught up... and they have NEVER said a word to us about being late...in fact our original plan said we were to pay monthy the whole thing... and we now are down to making a bi-monthly payment...no one has said a word about us doing that~ I guess they figure we are paying it~ so what the hey ~ right??
oh well.... just some inpur here on what payments are!

[j0hn13]

I also have 100% payback. About $90,000 unsecured.
Payments are $2,185/mo.
Have 4 payments to go...
Wasn't easy, but not the end of the world...
At least I'll finally have my life back soon...and debt free!!!

[Ckacrum]

Trying to strip the 2nd mortgage. House is 8900.00 under from first mortgage and we still owe 19,000 on 2nd.
We want to keep our house and figure when the market gets better, if ever, we would come close to the payoff if we had to bail and sell it. The payment is around what an apartment or rental house would be in our area, so might as well stay in it.
We also have 19 months on a van loan that we really need and don't want to lose. He's going to include it in the plan. We own two other clunkers worth 2400 total, so i'm pretty sure they'd say turn the van in. Other than that I have NOTTA worth HOOT!!

[maddog2112]

Ckacrum, If your below the median and are 800.00 a month negative on your means test, I would go for the 7 unless you own alot of stuff your trying to protect. One thing I learned when starting my 13, is the lawyer makes more money on a 13 and not unlike a realtor, the quicker they can get your case thru with minimum obstacles from a trustee the better. Then they are off to a new case. Remember, the lawyer gets paid first thru your 13 before any of your creditors.Thats how I started off on a 75% payback, even though I had no idea how I could possibly make that payment. Once it`s all approved, neither your lawyer or the trustee will be quick to try and adjust your payment if your cercumstances change. Trust me, been there done that. Hope this helps.

[Ckacrum]

We pay 465.00 weekly, 80% payback with our house, 2nd and vehicle paid outside the plan. Over the last 30 mos. we have paid 56k with 51k going to unsecured cc`s. Over the last 6 months our income has decreased substantially and we are in the process of trying to convert to a 7, as there is no money left after our means test to fund the 13

I'm more confused by the minute! Our lawyer said our payback would be around 365 for 5 years and we are deep below the median and -800.00 a month in DMI for a family of 4 in Indiana and he didn't break a sweat weather to do a 13 or 7. I'm feeling the stress because today we are paying our money and filing. I'm feeling the trustee is going to hammer down!!

[woeisme]

We pay $400/month, but house and car payments are outside the plan, all the $400 goes to unsecured debts. It will pay them 40% by the time we're done, barring any additional changes to the plan.

[maddog2112]

We pay 465.00 weekly, 80% payback with our house, 2nd and vehicle paid outside the plan. Over the last 30 mos. we have paid 56k with 51k going to unsecured cc`s. Over the last 6 months our income has decreased substantially and we are in the process of trying to convert to a 7, as there is no money left after our means test to fund the 13, even though we are still above our states median income. Our attorney thinks the trustee will go along with this idea, seeing we have given this 13 our best effort for 30 mos., and the fact that we have paid 51k out of 114k in unsecured cc debt and our income has decreased so much where we cannot afford to fund the 13. I hope he`s right!!!!

[13inIN]

A little over $1500/mo right now, going to about $1750/mo in early 2011.

+ net tax refunds beyond $500, + net bonus payments.

[MOMof3]

We pay $3040 per month. Of that 2130 is our regular mtg. payment. The rest goes towards arrears/back taxes & a small % to unsecured debt. We are past the half way point--but we have a baby due in FEB--I will have to change my user name to momof4! I hope we will have some room to modify, but we already have low % to unsecured, so I will have to go back to work.

[frugalgirl]

$900

Our payment plan is $900 a month for 60 months. We have made two payments so far . . . 58 payments to go.

[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.

[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.