Does anyone know how they come up with the chapter 13 monthly payment?
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It's a complicated cross-comparison of income to mandated IRS expenses for transportation and housing plus your actual expenses. Then the kinds of debt you have are taken into consideration - secured vs. non-secured vs. priority debts like taxes owed, child support, etc.Originally posted by jwillia2000 View Post
Bottom line is whatever the Means Test and Schedules spit out as your disposable income every month becomes your monthly Ch 13 payment.
This is the simplified less-than-100 words answer
I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to go
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