Had 341 Meeting this morning.....

[bobby125]

It did not go so bad, thanks to learning what to expect beforehand on this site....

Basically, I need to resubmit some documents to verify what we had planned.

My confirmation date is August 1st and until then everything is still up in the air.

My payment is suppossed to be $743 a month for 54 months. The trustee said 51 months this morning, but like I said until everything is confirmed who knows?

No one has said anything about if you get a raise to say something and I know that I read that on here often.

Also, my lawyer and trustee must be getting plenty, because they said my payback was 23% and I thought it was 40%

I will let you know what roadblocks I come up against.

[lrprn]

Thanks for sharing, Bobby125.

[nervousSC]

Congrats Bobby....you're on you're way!!!

[aa06a47]

It did not go so bad, thanks to learning what to expect beforehand on this site....

Basically, I need to resubmit some documents to verify what we had planned.

My confirmation date is August 1st and until then everything is still up in the air.

My payment is suppossed to be $743 a month for 54 months. The trustee said 51 months this morning, but like I said until everything is confirmed who knows?

No one has said anything about if you get a raise to say something and I know that I read that on here often.

Also, my lawyer and trustee must be getting plenty, because they said my payback was 23% and I thought it was 40%

I will let you know what roadblocks I come up against.

Am curious how you have a plan for less than 60 months under the new law.

[anonymuse]

Congrats! You made it through that stumbling block. On the road to recovery....

[FoolAndHisMoney]

Am curious how you have a plan for less than 60 months under the new law.

I too was wondering this.

Bobby, are you under the median for your state? That's the only way you can get less then 60 months unless you payback 100%.

[bobby125]

I am not under the state median? (100% positive)

I am paying 23% unsecured back. (Which I dont get but I guess the lawyers and trustees get a big cut)

I was told 54 months at $743 a month by my lawyer

But at the 341, the trustee said 51 months at $743

My lawyer said afterwards that until it is confirmed nothing is certain, but still I have heard no mention of 60 months................

[lrprn]

I too was wondering this.

Bobby, are you under the median for your state? That's the only way you can get less then 60 months unless you payback 100%.

I think having a few months less than 60 without having 100% payback may well be a local custom. Our Ch 13 lawyer told us from the very start that our local judge and trustee like to have 57 month plans rather than 60 so there's a little wiggle room in case something major comes up. He explained that this way we have three opportunities over five years when with the trustee's permission, we could skip a payment without having to go to court to amend our plan.

[bobby125]

IPRM!!!!!!!!!!!!!!!!!

ARE YOU KIDDING ME?

IS THAT WHY THE PLAN IS LOWER THAN 60 MONTHS!!!

WOW

That seems like really good news. I did not know that. I am being totally serious. So, if they have me down for a 54 month plan, then in case of an emergencey, I could skip a payment and not have to go back to court?

That means a 60 month plan really sucks because you do not want to give them a reason to revisit the numbers

What is a valid reason for asking to skip a payment? would prolonged no commission be valid (I get a check every month)

so it is almost like they are building a skipped payment or two? or in this case, 6?

[aa06a47]

I think having a few months less than 60 without having 100% payback may well be a local custom. Our Ch 13 lawyer told us from the very start that our local judge and trustee like to have 57 month plans rather than 60 so there's a little wiggle room in case something major comes up. He explained that this way we have three opportunities over five years when with the trustee's permission, we could skip a payment without having to go to court to amend our plan.

Never heard of that local custom.

[anonymuse]

That is an awesome idea--saves the courts/trustees time and money and allows some contingencies to make more debtors more successful in their Ch 13 plans--this should be a national mandate!!!