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10 Months to go received a letter plan modified

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  • asiano44
    started a topic 10 Months to go received a letter plan modified

    10 Months to go received a letter plan modified

    Hi guys. I filed chapter 13 dec 2009 but it was confirmed march 2010. It was doing ok until last week. I received a letter from trustee that the plan will be modified. They increase my payment from 1% to 9 %. They said my dmi is $6.755. I dunno where they get that. My plan base $23,100 and according to ndc I paid 20,084 to the plan . My question is how much do you think my monthly payment will be? Im so concern right now. With the ! % plan my payment monthly is $385 / month. Pls help me. Any ideas. I call my lawyer send and send him email. no reply . thanks
    Last edited by LadyInTheRed; 05-09-2014, 09:46 AM.

  • asiano44
    replied
    Thanks. Looking forward to 2/2015

    Leave a comment:


  • justbroke
    replied
    Paperwork issue? So long as your payment is not increasing, it is nothing but accounting.

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  • asiano44
    replied
    My lawyer said not to worry

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  • asiano44
    replied
    This is the wording of the letter .This chapter 13 plan must be modified because unsecured non priority creditors must receive equivalent of 60 payments of disposable income shown on form b22 ."statement of current Monthly income ". Form B 22 shows disposable income of $6,755 which will pay unsecured creditors a dividend of 9% or more. Based upon foregoing , the trustee recommends that the minimum dividend to unsecured creditors increase from 1% to 9 %.

    Leave a comment:


  • justbroke
    replied
    It was very likely the surrendered tax refunds. It is quite common over the life of a Chapter 13 to have the plan base increase, while the plan payments remain constant.

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  • spidge
    replied
    The way I read the post is that the payback was 1% and is now 9%. Could it be that since not every creditor made a claim those who did will get 9%?

    I had quite a few creditors not make claims and once the priority claims are done it leaves much more than the originally listed payback of 3% for the valid claims. That said I could care less who ends up with the money as the plan base will be paid anyway.

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  • asiano44
    replied
    Thanks for the correction . I just talked to my lawyer no worries. Everything stays same . I feel relieve now have a nice day.

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  • LadyInTheRed
    replied
    I think JB is right that if your plan payment was going to increase, they would tell you the new amount. Try not to worry too much until you talk to your attorney.

    Have you had any increase in income?

    Leave a comment:


  • LadyInTheRed
    replied
    Originally posted by asiano44 View Post
    Sorry for my bad English it's my second language I haven't surrender my tax refund I dunno how they come up from this dmi
    Good morning! It really isn't your english as much as the lack of punctuation. Now that I have the time, I just edited your first post. I could have made some grammar corrections, but just adding periods at the end of sentances make a big difference. For example, instead of the above, try:

    "Sorry for my bad English. It's my second language. I haven't surrender my tax refund. I dunno how they come up from this dmi."

    Your English is not too bad. I could make a couple of grammar corrections. But, just adding periods makes a huge difference.
    Last edited by LadyInTheRed; 05-09-2014, 10:00 AM.

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  • asiano44
    replied
    they didn't tell me about my new payment yet he said it will increase from 1% to 9% if theres objection need to send wriiten on may 23 I hope I can afford the payment im so close for my 60 months , thanks for advise need to take my nerve pill hehehe

    Leave a comment:


  • justbroke
    replied
    Do not be nervous. Your surrendered (or "turned over") tax refunds are considered "DMI" (or disposable monthly income). When that happens, the Trustee must account for this and increase your plan base.

    If your payment were to increase, you would have been told that your new payment is $X.

    Leave a comment:


  • asiano44
    replied
    once last week I sent him email 2 ill call again tomorrow im so nervous now.

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  • asiano44
    replied
    Sorry for my bad English it's my second language I haven't surrender my tax refund I dunno how they come up from this dmi

    Leave a comment:


  • justbroke
    replied
    You really need to speak with your attorney. The change in the "total DMI" over the life of your plan may have increased because you are surrendering and have surrendered tax refunds.

    Leave a comment:

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