Chapter 13 Bankruptcy Filing

Calculating what you’d end-up paying after having filed a Chapter 13 requires knowing what the terms of the court approved Chapter 13 Plan would include. It would also require knowing what debts would not be paid or discharged in a Chapter 13. Learn more at http://ceicom.org/?p=134 and http://mikesthoughts.drupalgardens.com/content/obtaining-bankruptcy-attorney.
It’s very difficult to accurately calculate what a Chapter 13 Plan payment would actually be. All of the information needed to accurately calculate a Plan payment would need to be gathered, analyzed and input into a program that would run all of the variables including information derived from the attorneys analysis of the information you provided regarding your assets, liabilities, incomes and expenses. It would also be necessary to complete the Chapter 13 Means Test Form 22C, review what exemptions can be claimed along with an analysis of other information gathered from the Attorney Intake Questionnaire. 
When this subject was initially discussed in section B3 the dialogue pretty much stopped at this point by referring you to your attorney for their ESTIMATE of what your Chapter 13 Plan payments would be and how many months it would be scheduled to last. You can follow through with that process by going back to B3 or you can read on and come to your own conclusions as to what your Chapter 13 Plan would likely be. That total monthly payment multiplied by the length of the Plan gives you the total you’d be paying through the Chapter 13 Plan. 
Add to that any payments you may be making to creditors directly out of your personal living budget. Then add to that any amounts you’d have to repay after completing your Chapter 13 Plan (such as any non-priority non dischargeable unsecured creditors not paid off through  the Chapter 13 Plan). Those totals would give you both the monthly payment requirement(s) and the grand total you’d have to pay to eliminate all debts when filing Chapter 13. Comparing these figures should provide you with a ‘ballpark’ idea of what would be required monthly and the total amount that would ultimately be paid to your creditors both after a Chapter 7 and during and after a Chapter 13. 
What follows is a very in-depth and complex method to analyze your debts in relationship to 39 different types of creditors and how they would be treated differently when comparing the effects of a Chapter 7 to a Chapter 13 both monthly and in total. The objective is to determine the answers to questions #2 and #3 above. 
By reading about non-dischargeable debts here or by asking your bankruptcy attorney which debts will not be discharged after filing a Chapter 7, you’ll have an idea of what you’ll be facing both monthly and in total after filing Chapter 7. Compare that to an analysis of what your Chapter 13 payment would be, how long it would last and what you’d have to pay, if anything, in addition to your Plan payments would allow you to know the monthly requirements and the total expected to be paid-out during and after completing the Chapter 13.

ZoeLee

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