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How much does the Trustee get?

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    How much does the Trustee get?

    I've been in my 13 plan for almost 12 months now. I just started going online to look at my plan and payments so I can determine how much to sell my house for so I can pay 100% and move on (not an option 12 months ago). On the National Data Center page it shows that the Trustee to get 5.9%. My question is...What is he/she getting 5.9% of? The claim amount? And, is it figured as a loan interest would be figured (which would have him receiving about $10k on my case ($84k in claims)) or is it just a straight percentage of the claim amount (which would be around $5k).
    Thanks,
    John, Virginia
    Case Confirmed: 5/20/05
    Property Closing: 9/20/06
    Buy-out and Discharged: 9/27/06

    #2
    The trustees cut would be a portion of what you end up paying, not what you originally owed.

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      #3
      OK, so if I'm paying back 100%, wouldn't that be the $84k? My lawyer had thrown a $6k number at me, as the trustee's fee, when I first inquired about selling the house to pay it off, so if I pay 100%, in about 15months of the plan, do the Trustee's fees just total 5.9% of the total $84k that I'm going to be paying? or how do I figure out what I will have to pay the Trustee. The Trustee is currently only taking about $45 a month of my $723 payment.
      John, Virginia
      Case Confirmed: 5/20/05
      Property Closing: 9/20/06
      Buy-out and Discharged: 9/27/06

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        #4
        Thats how it sounds. Ask your lawyer to know for sure.

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          #5
          from what i understand, you dont pay more just because the trustee is dealing with the plan. he just reduces what the creditors make to make sure he can get some too. so in a 100% case where you would owe 10K then thats all you would pay. not more then that. this is a simple example of course.

          you can call the trustee you know. ask him direclty.
          Im not an attorney or a trustee. You cant trust me either though!

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