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Chapter 13 Debt Classifications
My interpretation as I have the same options on my West Chapter 7-13
program: Prorata, means the program will calculate the proposed
payment based upon all the different classes and creditors entered and
is thus flexible in figuring out the average payment. Fixed means,
you say what the payment will be each month for the arrears.
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868
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On Fri 29/01/10 8:46 PM , Dennis McGoldrick easky1@yahoo.com sent:
Mtg arrears secured, yes
Property taxes secured.
Prebk hoa dues may be secured, may be unsecured depending on hoa
agreement.
Dennis McGoldrick 350 S. Crenshaw Bl., #A207B Torrance, CA 90503
On Jan 28, 2010, at 10:57 AM, "Cola" wrote:
I want to check my understanding here to make sure that it is
correct.
Basically, I want to make sure that I have the following
classifications of debts correct.
A first mortgage arrearage is considered to be a secured debt and
therefore must be paid in full under a Chapter 13 Plan, correct? If
so, why does my software (BestCase) allow me to choose between a
prorata payment and a fixed payment?
Second, am I correct that property tax bills are priority unsecured
debts that must be paid in full under a Chapter 13 Plan?
Third, am I correct that that past-due HOA dues for which there is
no judgment or recorded lien are general unsecured?
Thanks for your help, RC Lim
Links:
[1] mailto:rogerclim@yahoo.com
[2] mailto:easky1@yahoo.com?subjectRe: [cdcbaa] Chapter 13 Debt
Classifications
[3] mailto:cdcbaa@yahoogroups.com?subjectRe: [cdcbaa] Chapter 13
Debt Classifications
[4]
The post was migrated from Yahoo.
Mtg arrears secured, yes
Property taxes secured.
Prebk hoa dues may be secured, may be unsecured depending on hoa agreement.
Dennis McGoldrick
350 S. Crenshaw Bl., #A207B
Torrance, CA 90503
On Jan 28, 2010, at 10:57 AM, "Cola" wrote:
I want to check my understanding here to make sure that it is correct.
Basically, I want to make sure that I have the following classifications of debts correct.
A first mortgage arrearage is considered to be a secured debt and therefore must be paid in full under a Chapter 13 Plan, correct? If so, why does my software (BestCase) allow me to choose between a prorata payment and a fixed payment?
Second, am I correct that property tax bills are priority unsecured debts that must be paid in full under a Chapter 13 Plan?
Third, am I correct that that past-due HOA dues for which there is no judgment or recorded lien are general unsecured?
Thanks for your help, RC Lim
Mtg arrears secured, yesProperty taxes secured.Prebk hoa dues may be secured, may be unsecured depending on hoa agreement.Dennis McGoldrick350 S. Crenshaw Bl., #A207BTorrance, CA 90503On Jan 28, 2010, at 10:57 AM, "Cola" <rogerclim@yahoo.com> wrote:
I want to check my understanding here to make sure that it is correct.
Basically, I want to make sure that I have the following classifications of debts correct.
A first mortgage arrearage is considered to be a secured debt and therefore must be paid in full under a Chapter 13 Plan, correct? If so, why does my software (BestCase) allow me to choose between a prorata payment and a fixed payment?
Second, am I correct that property tax bills are priority unsecured debts that must be paid in full under a Chapter 13 Plan?
Third, am I correct that that past-due HOA dues for which there is no judgment or recorded lien are general unsecured?
Thanks for your help, RC Lim
The post was migrated from Yahoo.
I want to check my understanding here to make sure that it is correct.
Basically, I want to make sure that I have the following classifications of debts correct.
A first mortgage arrearage is considered to be a secured debt and therefore must be paid in full under a Chapter 13 Plan, correct? If so, why does my software (BestCase) allow me to choose between a prorata payment and a fixed payment?
Second, am I correct that property tax bills are priority unsecured debts that must be paid in full under a Chapter 13 Plan?
Third, am I correct that that past-due HOA dues for which there is no judgment or recorded lien are general unsecured?
Thanks for your help, RC Lim
The post was migrated from Yahoo.