Chapter 13 payment

[Maximo]

I have a 3300 a month payment scheduled to start this month but it includes the house payment of 1575.

[gaflattop]

I make a $1,430 per month and have 9 more to go!

[TiredandWeary]

For what it's worth, my husband and I are now bringing home approx. $95k annual gross income. Our trustee payment, which includes our outrageous ARM mortgage, is $3200. When we filed over 2 years ago, our annual income was about $81k together, gross. Our unsecrured creditors payment to the trustee at that time was $300. By the time we were confirmed, the mtge lender had forced us to put the mtge payment in the Ch. 13 BK plan. Our payment went up to $2500 (still only $300 going toward unsecured creditors). After another year, our ARM kicked in and our trustee payment increased accordingly. Because there was a delay in getting the trustee the correct info regarding the ARM increase in mtge payment, we had to have our plan modified to include a few months of arrearages (we were still making payments of $2500 a month to trustee, thus, we were about $600 a month short until the trustee got the info to increase the payment for mtge). This jacked up our total plan payments to the tune of $3189 per month, which is where we are at currently. We are now at 22% payback to unsecured creditors.

[rockyroad]

How would a trustee go about figuring a Chapter 13 payment amount if you own your own biz and your income flucuates? Would they take an average over a certain period of time? There are months when we are in the red and then months when we make quite a bit...just curious

[Tbornetun]

When doing the means test it takes the average of income over a 6 month period to determine your monthly income.

[NowImDownInIt]

When doing the means test it takes the average of income over a 6 month period to determine your monthly income.

And it sucks if you recently had lots and lots of overtime..