In your Chapter 13, what Percentage are you paying the Trustee?

[simon2020]

I am just curious.

Of all the Chapter 13's filed on this board or intend to file under Chapter 13, what is the percentage you are paying on your debts?

For example is your plan written as 60% on the dollar, 25% on the dollar or 100% on the dollar?

Also:

1. Are you in the 36 month plan or the 60 month plan?
2. What is the total amount of debt being paid back?

Thanks.

[justbroke]

1. Are you in the 36 month plan or the 60 month plan?
2. What is the total amount of debt being paid back?

I'm in a 60 month Plan. I'm paying back some $600-$6,000 to unsecured creditors (at 0.2% to 2.0%). (Depends if the disallowed claims hold.)

[Nicollette]

My plan is estimated to be about 48 months, but I think I'll be done sooner than that as long as my job holds out. I'm paying back 2% to unsecured creditors.

[cwillie]

We are in a 36 month plan, with a 4.457% payback.

[ekorB]

.....but he asked what percentage is going to the trustee.

[justbroke]

.....but he asked what percentage is going to the trustee.

Re-read the actual posting. While the Title of the thread reads as a Trustee question, the contents of the post reveal 3 questions, which are not about the Trustee percentage fee.

To answer your question, about the Trustee fee... it varies by what is called the Trustee Region (not by District). The U.S. Trustee for the Region sets the percentage rate. In Region 21, my region, it's 7.5%, but the Trustee wants Plans set at 10% in case it varies during the Plan.

[simon2020]

trustee fee and california

Hmmm, I wish my trustee fee was that low. My attorney said here in Southern California, the trustee charges 11%. Does that sound right?

Also, is it true while I am in the 60 month plan, I would be charged an additional 6% interest fee on all my unsecured debt??

[justbroke]

Hmmm, I wish my trustee fee was that low. My attorney said here in Southern California, the trustee charges 11%. Does that sound right?

Who knows, they do vary across the country. Some are as low as 4% I will add this. A higher Trustee fee really doesn't hurt you as much as it hurts the Unsecured creditors. Example: if my Trustee takes 10%, then my unsecurdes get $600 or 0.2%. If the Trustee takes the 7.5% they are allowed to take, then the unsecured split $6,000 or 2%!!!

Also, is it true while I am in the 60 month plan, I would be charged an additional 6% interest fee on all my unsecured debt??

You don't pay interest on unsecured debt. However, I have read of several judges that think you have to pay it if you're projected disposable income is more than your total unsecured debt. Fortunately, the latter judges are in the very very very very very minority.

[woeisme]

My trustee take only 2.7%. That's the good news. The bad news is that I'm paying back about 75% of my unsecured debt in my plan.

[DUMBAGAIN]

I'm lost, the % that the trustee takes is that based on how much debt you have? What's the % based on?

[HHM]

The % the trustee takes is a fixed rate set by the judge.

What the trustee gets is a percentage of each payment you make.

So, if the trustee fee is 10%, and you are paying $500 per month, the trustee keeps $50 of that check.

[holding on]

this is something I can't seem to get nailed down. Is the trustee % added on top of your debt to repay, or is it taken out of the payment? If trustee % is 10% and you owe 60,000 must your plan try to pay back 66,000? or does the plan try to pay back 60,000 and the creditors would only get 54,000 due to trustee taking 6,000?

I see in my plan documents where it says trustee % is 10%, but nowhere do I see that amount factored into the plan payment numbers.