Free Case Evaluation by a Local Lawyer!
Enter Zipcode or for Immediate Assistance call (888) 428-7281
Have a general legal question? Click hereAsk a Local Attorney. 100% Anonymous. Free Answers.
Or for Immediate Assistance call (888) 428-7281
Free Case Evaluation by a Local Lawyer: Click here
Lorene Lynn Mies, APLC | TheBankruptcyMinute.com
No, your payment is based on your disposable monthly income not how much you owe. Unless, your is a 100 percent plan. If you are paying back 100 percent the plan will decrease by the appropriate amount. Call your attorney and ask what is your percentage if you don't remember.
Answer Applies to: California
Replied: 8/27/2010
Law Offices of Larry D. Simons | Larry D. Simons
If your plan is a 100% plan, that is you will pay off all of your creditors over the life of the plan, then yes, your payment could decrease. If you are paying only a percentage of the amount owed to the creditors, then your payment will not decrease. Rather the percentage being paid to the creditors will increase from the amount proposed in your plan.
Answer Applies to: California
Replied: 8/26/2010
The Law Office of Mark J. Markus | Mark Markus
That really depends on the rules of the court in the jurisdiction where you filed your bankruptcy case and what your plan terms are. In the Central District of California, they do percentage plans. So, for example, if your plan payment was $500 per month for 60 months and that was going to pay 50 percent of your claims, and some of your creditors do not file claims, then your plan payment would remain the same, but at the end of your case, the Trustee would file a motion to increase the percentage.
Answer Applies to: California
Replied: 8/26/2010
Diefer Law Group, P.C. | Abel Fernandez
Yes. If creditors don't file a claim the plan amount can be lowered in some cases.
Answer Applies to: California
Replied: 8/26/2010
