.jpg)
Non-payment of of step up plan
Is there too much equity to convert to 7? Unfortunately, it is not the trustee's job to check on the step up date. It might even be too late to request a hardship discharge. If no equity issues, i.e. everything is still exempt, make sure as 7 trustee will ask a broker, then convert.
D
Sent from my iPhone
> On Aug 30, 2016, at 4:40 PM, Paul Horn attorneypaul2000@yahoo.com [cdcbaa] wrote:
>
> Hello group,
>
> I have a client who is was supposed to be in a step up chapter 13 plan with Curry. She has not been paying the step up amounts and Curry has been accepting the lower plan amount for about 42+ months. Now it is past the 60 month mark, but since the client has underfunded the plan, the base plan amount hasn't been reached and the Trustee's office said that she needs to pay the deficiency to have the discharge. The client's case was a mostly for mortgage arrears, but was a 28% payback to unsecured creditors. The arrears amount has just been reached as well as the administration fees. If I was able to reduce the plan from a 28% plan to a 0% plan, than she would be done. Is that possible? Her disposable income has reduced even more than what was stated on the initial petition, so paying the full amount of the underfunded amount is very unreasonable. What I want to do is amend to petition to reflect what plan payments have actually been made for the 60 month period, file a current income and expense declaration, amend the plan to a 0% to unsecured creditors and write a letter to the trustee inclusive of the last 3 years of tax returns, which would show the decrease in her income, attesting to the fact she should have been paying the lower plan payments all along. Again, she has been paying diligently for the life of the plan, just the incorrect amount for the majority of the plan and the Trustee hasn't once address the deficient payments.
>
> Any suggestion or solutions to this issue would be appreciated. Thank you very much.
>
> Paul Horn
> Attorney at Law
> Certified Public Accountant
> 11404 South Street
> Cerritos, CA 90703
> 800-380-7076
>
>
The post was migrated from Yahoo.
Hello group,
an with Curry. She has not been paying the step up amounts and Curry has been accepting the lower plan amount for about 42+ months. Now it is past the 60 month mark, but since the client has underfunded the plan, the base plan amount hasn't been reached and the Trustee's office said that she needs to pay the deficiency to have the discharge. The client's case was a mostly for mortgage arrears, but was a 28% payback to unsecured creditors. The arrears amount has just been reached as well as the administration fees. If I was able to reduce the plan from a 28% plan to a 0% plan, than she would be done. Is that possible? Her disposable income has reduced even more than what was stated on the initial petition, so paying the full amount of the underfunded amount is very unreasonable. What I want to do is amend to petition to reflect what plan payments have actually been made for the 60 month period, file a current income and expense declaration, amend the plan to a 0% to unsecured creditors and write a letter to the trustee inclusive of the last 3 years of tax returns, which would show the decrease in her income, attesting to the fact she should have been paying the lower plan payments all along. Again, she has been paying diligently for the life of the plan, just the incorrect amount for the majority of the plan and the Trustee hasn't once address the deficient payments.
k you very much.Paul Horn
Attorney at Law
Certified Public Accountant
11404 South StreetCerritos, CA 90703
800-380-7076
The post was migrated from Yahoo.