High trustee payment?

[becky20]

I would DEFINITELY do some other consultations and do your best to hold off as long as possible on filing to show 6 months of current income instead of the inflated income with OT that is no longer given...

[13for60]

B -

We're in the same boat - my wife and I both work in healthcare, lots of OT. Our attorney warned us up from that we'd be hit with 100% payback. We have our 341 hearing on 11/10 and we're looking at 2500+, depending on what the Trustee does. Initially, our payment was $3500, but like you the DMI didn't add up (something like Sched J vs. the Means Test just didn't jive for some reason).

We're hosed, we know it. It's gonna hurt for a while, but we figure that we'll find a way to make it work. We're not 100% in love with our attorney, but we live in a rural area of Northern Cal and choices are limited. We're 100 miles away from the attorney and almost 300 from the Trustee's offce.

Our attorney told us that "your situation rarely comes up" but that's little comfort when faced with a huge payment. Out Trustee has bee na Trustee for like 40 years - I have no idea which way our 341 will go. We're keeping our fingers crossed and hoping for the best.

We'll keep our fingers crissed for you, too!

--13for60

[momofthree]

Have you already taken the means test? There's one here: http://www.legalconsumer.com/bankruptcy/means-test/. You enter your zipcode and family size and it automatically fills out all of the IRS standards for your state and household size. This should give you insight as to how much your payment should be.

[Bearmo01]

Thanks Newbie, thanks Laurie.

The Attorney just doesn't seem to keen on any modifications, basically it's "here is the payment we came up with, now make it work somehow" We get the impression he'd like to keep it as simple as possible on his end, and he probably wants it that way. He'll get a higher rate of return with the least he has to do for us. Working smarter, not harder applies to this I guess...LOL

We're doing the budgeting, using tools, got signed up with Mint.com and we just don't see how we can make this happen for the next 5 years. We also have 4 kids from 7 to 17 in the mix as well. When we showed him our paycheck stubs since June and how our income has dropped by $1800 per month he said our payment would most likely be around $2500 down from $2800. That's a pretty small drop for an $1800 monthly deficit I think.

We"ll meet with other Attorney's to compare and then make a decision from there.
I'd like to add the he also came up with the 100% payback suggestion, just from reading other posts on the forum that seems odd to us, but then again is a learning experience for us.

I'm thankful for all the good people on here willing to share their experiences with us that have little to go on.

Best wishes,

B

[LaurieM]

Your attorney can motion the court to have the plan payment modified (lowered) which would obviously decrease the percentage paid to your unsecured creditors. Be prepared though to have the trustee do reviews (asking for updated paystubs periodically) to ensure that the overtime hasn't increased. We do plans for people all the time who have seasonally increased income and the attorney I work for has successfully prepared and had approved plans which have one payment a certain number of months per year and a lower payment during the decreased or no overtime months of the year. We provide the court with excel spreadsheets proving the fluctuating income when we ask for something like this though.

[newbie2]

No, in fact it is rare to have a 100% payback. Please read this thread http://www.bkforum.com/showthread.ph...sn-t-matter%29 in the stickies. It helps explain how payback is determined.

And yes, definitely seek a 2nd (or third) opinion, especially since you aren't sure how that payback was determined.

One other thing: If your overtime recently dropped off that may be part of the issue you're having (the 6 month look back). The forward looking income may not be accurate. Ask your attorney about that.

[Bearmo01]

Hello,

I've been searching the forum for a few hours now and can't seem to find an answer.

Are all 13's paid back at 100%?

We are in AZ and make to much for a 7, so we've met with an Attorney and according to their numbers, we'll have a monthly payment of about $2800. When we crunch the numbers we do not see a DMI in which we call pull this off, especially for 60 months.

In our initial meeting, looking over paystubs both my wife and I had been getting a lot of overtime (we're both in healhcare) we are not getting any now, and my monthly income has dropped by about $800 per month, my wife's by close to $1000.We met with him again, re-crunched the numbers and were still at $2500 per month. We're baffled here, we are not stupid people, we just don't see it.

Should we meet with a different Attorney to see if the numbers truly correlate?
Should we get someone more aggressive?

I've been working all night it's 5:00 am, so please pardon me if I left out any vital information (I'm sure I must have)

Any advice would be greatly appreciated. Or if anyone can reccommend a good Attorney in AZ (Mesa/Gilbert area) that would fantastic also.

Many thanks,

B