It could be done algebraically:
Plan Payment P
Trustee Portion T
Creditor Payment C
(1) P T + C
(2) T .1P
substituting (2) into (1) you get
P .1P + C
which (solving for C) gives us
(3) C .9P.
(obviously if T is 10% C is 90%).
So what percentage of C is T?
(4) T % * C // here the unknown is %
Substituting (2) for T and (3) for C we get:
.1P % * .9P // now divide both sides by .9P to isolate the unknown %
gives
.1P/.9P %
The P's cancel and you're left with .1/.9 1/9 .1111 11.1%
Since I don't know enough about 13s, I don't know why this 11% number is
important or used.
Sincerely,
Michael Avanesian
Law Offices of David A. Tilem
www.tilemlaw.com
818-507-6000
On Wed, Oct 30, 2013 at 11:34 AM, John D. Faucher wrote:
> **
>
>
>
> Actually, it's arithmetic - manipulating numbers. It becomes algebra when
> you substitute a letter for a number.
>
http://en.wikipedia.org/wiki/Arithmetic;
>
http://en.wikipedia.org/wiki/Algebra#Al ... athematics
>
> I don't suck at arithmetic or algebra, but I do suck at interpersonal
> relations when I correct people.
> Or so I'm told.
>
>
> John D. Faucher
> Faucher & Associates
> *818/889-8080*
> *
> *
>
>
>
> On Tue, Oct 29, 2013 at 8:06 PM, Steven B. Lever wrote:
>
>> **
>>
>>
>> Hmm. I suck at algebra. Thats the explanation for me.****
>>
>> ** **
>>
>> *From:*
cdcbaa@yahoogroups.com [mailto:
cdcbaa@yahoogroups.com] *On
>> Behalf Of *Mark Jessee
>> *Sent:* Tuesday, October 29, 2013 6:32 PM
>>
>> *To:*
cdcbaa@yahoogroups.com
>> *Subject:* Re: [cdcbaa] Chapter 13 trustee fees****
>>
>> ** **
>>
>> ****
>>
>> Algebra. It's 11 % of the amount paid to the creditors which basically >> 10% of the plan payment.****
>>
>> ** **
>>
>> Mark Jessee****
>>
>>
>> Sent from my iPhone****
>>
>>
>> On Oct 29, 2013, at 5:35 PM, "Steven B. Lever"
>> wrote:****
>>
>> ****
>>
>> Mark;****
>>
>> ****
>>
>> That put it better than I did by far. Thank you. So why do we have to
>> plan for 11% as per the form itself?****
>>
>> ****
>>
>> Steve ****
>>
>> ****
>>
>> *From:*
cdcbaa@yahoogroups.com [mailto:
cdcbaa@yahoogroups.com]
>> *On Behalf Of *
jesseelaw@aol.com
>> *Sent:* Tuesday, October 29, 2013 4:35 PM
>> *To:*
cdcbaa@yahoogroups.com
>> *Subject:* Re: [cdcbaa] Chapter 13 trustee fees****
>>
>> ****
>>
>> ****
>>
>> The Chapter 13 trustee is capped on her income after overhead, so that is
>> why the percentage varies from year to year. If there is low
>> volume trustee does not make the max income and the percentage is 10%.
>> High volume trustee max income reached and thus a lower trustee
>> percentage. ****
>>
>> ****
>>
>> 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 (805) 497-5864 (Facsimile)
>>
>> NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENT
>> OF THE TRANSMISSION, AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY
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>>
>> ****
>>
>> In a message dated 10/29/2013 3:51:21 P.M. Pacific Daylight Time,
>>
michael@avanesianlaw.com writes:****
>>
>> ****
>>
>> Why would they take less than the maximum allowed by law? If this is a
>> Chapter 13 case, I believe the maximum is 10% and that's what they take.
>> ****
>>
>> ****
>>
>> I am basing this on my reading of 28 U.S.C. 586 (e)(1)(B)****
>>
>>
>> ****
>>
>>
>> Sincerely,****
>>
>> Michael Avanesian****
>>
>> Law Offices of David A. Tilem****
>>
>>
www.tilemlaw.com****
>>
>> 818-507-6000****
>>
>> ****
>>
>> On Tue, Oct 29, 2013 at 1:50 PM, Steven B. Lever
>> wrote:****
>>
>> ****
>>
>> Hi Gaurav:****
>>
>> ****
>>
>> As I understand it, the percentage actually paid is done after the fact
>> when the trustee expenses versus revenues is figured out. So they tell us
>> to use 11%. Maybe someone knows the rules better than I.****
>>
>> ****
>>
>> Steven B. Lever ****
>>
>> ****
>>
>> *From:*
cdcbaa@yahoogroups.com [mailto:
cdcbaa@yahoogroups.com] *On
>> Behalf Of *Gaurav Datta
>> *Sent:* Monday, October 28, 2013 4:30 PM
>> *To:*
cdcbaa@yahoogroups.com
>> *Subject:* [cdcbaa] Chapter 13 trustee fees****
>>
>> ****
>>
>> ****
>>
>> Hi all, ****
>>
>> ****
>>
>> Is there a statute or a local rule that sets the chapter 13 trustee fees
>> at a certain percentage? I am curious as to the lowest percentage of the
>> total plan our local CDCA chapter 13 trustees will take in fees. ****
>>
>> ****
>>
>> --
>> *Gaurav Datta, Esq.,LL.M
>> 4401 Atlantic Ave, Ste 225
>> Long Beach, CA 90807
>> Phone: 562-984-2074
>> Fax: 562-984-2081* ****
>>
>> ****
>>
>> *Reply via web post
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