What are you Ch 13 payments (propposed and final outcome)?

[woeisme]

while there is nothing in BK law that says a certain % has to be paid, some trustees have certain "unofficial" rules of operation, where they object to any plans that propose less than a specific amount to creditors. In those cases, the petitioner always has the option to argue their proposed plan to the judge, despite trustee objection. There is a rule in BK law that in a CH 13 the creditors must get at least as much as they would receive if you did a CH 7 liquidation, which sometimes gets people in a real jam if they are trying to protect non-exempt assets but don't have enough income to pay back in a 13 the value of the asset they are trying to protect.

[keepsmiling]

First of all - there is never a "choice" between Chapter 13 and Chapter 7 filing. You can only file Chapter 7 if you qualify to do so. If you try and do not qualify, your case will be dismissed. If your attorney says it is possible to file under Chapter 7 but feels that the court might not agree, you must be prepared for dismissal or Chapter 13 as an alternative.
There is no such requirement as needing enough DMI to repay 25% of unsecured claims in a Chapter 13. Some people are able to pay 100 percent; others never pay a single dime to unsecured creditors.. If that were true, some debtors would not qualify for either Chapter 7 or Chapter 13.

I could swear I have seen some similar condition to that somewhere, about the 2x %.... maybe that's for under the median filers?

[angel7821]

I started out with a payment of 132.00 and no way the trustee would go with that. I had to find a better paying job and got confirmed with a payment of 370.00.

[salsa]

Our payment is $1754.00 a month. That includes 2 vehicles, house arrears, and priority debt. Unsecured are getting nothing.

[LadyInTheRed]

I know it depends upon total debt, but what is the range of payments being made? Is anyone paying less than $100/month for 60 months? Are people paying over $1K?

Your plan payment is not determined by your total debt unless perhaps you have enough income to pay 100% of your unsecured claims. Otherwise, your payment is determined by how much disposible income you have. You may have certain debts that must be paid during the plan (priority debts, arrears, secured debts), in which case to propose feasible plan you must show that you have sufficient income for those debts to be paid during your plan.

You can't determine whether your plan payment is reasonable based on the payments of others. But, to answer your question, my plan with a $500 payment was confirmed as originally submitted.

[kornellred]

First of all - there is never a "choice" between Chapter 13 and Chapter 7 filing. You can only file Chapter 7 if you qualify to do so. If you try and do not qualify, your case will be dismissed. If your attorney says it is possible to file under Chapter 7 but feels that the court might not agree, you must be prepared for dismissal or Chapter 13 as an alternative.
There is no such requirement as needing enough DMI to repay 25% of unsecured claims in a Chapter 13. Some people are able to pay 100 percent; others never pay a single dime to unsecured creditors.. If that were true, some debtors would not qualify for either Chapter 7 or Chapter 13.

[keepsmiling]

Many people here pay well over 1K/month. But that's really irrelevant for you. It may be entirely secured debt.
Just as people's salaries and expenses vary widely, their payments will as well. You really can't make any kind of educated guess what YOUR payment should be by seeing what others pay.
I would be curious to know if there are any under 100....

You want to plan carefully and get a good lawyer who crafts the right plan for YOU. Keep reading.

[alo]

I have a higher income and may not qualify for Ch 7. I pass the means test (barely) but we'll see about my monthly expenses getting approved. I will have my attorney guide me (once I select one).

But I read somewhere that there is another measurement...something about ALSO NEEDING enough disposable income to repay 25% of your unsecured debt (for me about $400/month). Otherwise what happens??

I don't think I'll have this much DI. Has anyone heard of this? Experienced it?

I know it depends upon total debt, but what is the range of payments being made? Is anyone paying less than $100/month for 60 months? Are people paying over $1K?