chapter 13

[Peevee]

I filed Dec. 2004 it was finally confirmed in April 2005. I was checking pacer yesterday and my unsecured creditors was finally set at 51% as of 3-24-06. Does it usually take this long? Also there hasn't been any disbursements since April 2005.

[Peevee]

I called my lawyer Friday and asked him about this. He told me not to worry about it and it was time to submit a new monthly expense report. I think he called it a I and J report. I figure since gas and utilities have went up quite a bit. Basicly everything has went up since I filed Dec. 14 2004. They just might have to readjust this payment.

[aa06a47]

Seems like a long time to me. Have you been making all your payments on time?

[Peevee]

They are deducted out of check weekly, I haven't missed one yet.

[aa06a47]

Are you complaining about the 51% or just that your payment is too high? While it seems a little odd that they have collected your money for a year and not dispursed any, I, in my opinion, don't understand how that is your problem anymore? I'm sure the unsecured creditors will be barking soon enough.

[Peevee]

I'm not really complaining I'm just curious why it took a year to set it at 51% and why they haven't dispursed any funds as of April 2005. I guess they get interest on this money.

[aa06a47]

I'm not really complaining I'm just curious why it took a year to set it at 51% and why they haven't dispursed any funds as of April 2005. I guess they get interest on this money.

Seems like a long time, on my filing, it says the % payback, not sure if that is my attorney numbers or what actaully is filed with the court.

Hell yes they get interest. I'm sure the trustee sets on many 100's of thousands of dollars each month. It does seem weird though that they have not dispursed anything in a year. Maybe there are no creditors claiming any?

[Minnymouth]

Many a Trustee has gotten rich off of the interest where they hold money back from creditors.............. Thats why I feel that a Trustee should never be allowed to hire his own law firm to handle the payout to creditors......... DOUBLE DIPPING....... TRIPLE DIPPING (Trustee gets paid, his law firm gets paid, and then they make the interest off the funds also...)
Give a call the the US Trustee on your case and ask him why no dispersments have been made since 2005.... that your account shows that none of the creditors have received any money.... towards your debts in your Chapter 13 plan.

[katze]

Our % payback was listed in our plan that we filed with the court. It hasn't changed. The only thing that will add to that will be our tax refunds that we have to turn over and our bonus checks we get every quarter. Our plan listed 24% and with the additional funds it will probably be closer to 40%. But with 89k in unsecured debt which we would never be able to pay back we are ok with that.