What Your Chapter 13 Trustee Really Thinks About Your Case

How does the Chapter 13 trustee’s expectations for your repayment plan differ from what you and your lawyer want?
The Chapter 13 serves as the administrator for your Chapter 13 plan. You pay funds, via payroll deduction, into your plan and the trustee sends out checks to your creditors. The trustee also reviews your Chapter 13 schedules and objects if something is unclear or otherwise unacceptable.
As I discuss in this video, 25 years ago, a Chapter 13 trustee might file three or four objections; today, they will file twenty-five or thirty.
You should assume that the Chapter 13 trustee assigned to your case believes that you have the ability to pay more than you are proposing and that you have the ability to pay 100% of the claims of your creditors.
Most of the time the original repayment plan that you file will need to be amended and you will end up paying more.
An experienced Chapter 13 attorney can anticipate likely trustee objections and negotiate with the trustee on your behalf to reach agreement on a payment plan that you can actually afford. #chapter13bankruptcy #chapter13trustee #atlantabankruptcy
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[@MysticMountainNebula]

Thank you for this video!

[@judypolstra]

Excellent info!! I won a lawsuit and one of two of the defendants just filed Chapter 13. Can't wait to see how this plays out...

[@KZ.7160]

Thank you Sir. Very helpful.

[@dianecelento4974]

Priceless Information

[@paularubina3778]

Thank you !

[@steverino9696]

Trustees fees are 10% which is ridiculously outrageous

[@atlantabankruptcy]

That is a lot of money.

[@AZREPUBLICAN]

.065 % cash on every dollar to the Trustee

[@simonedifalco7075]

I don’t even like the number 13 , it is bad luck... It doesn’t worth, besides paying attorneys fees , and being having to pay 💰 back the creditors , definitely it is a NO 👎🏻 NO , now if you REALLY have to do to stop a foreclosure, maybe however I would think twice after all of this informations . Thank you so very much for the video, very much informative.,

[@eightup]

He is tell the truth.

[@dlangley012]

What would happen if the debtor fails to make their mortgage payments during the plan period? Will the bank be able to forclosure due to non-payment of mortgage during the plan period? What can the bank do during this period?

[@troller4jesus]

If I’m paying 100% over 5 years then do I get to keep extra disposable income?

[@chgofirefighter]

In regards to trustees does it work like this nation wide? Or state specific? If you’re on military disability payments from the VA your money is basically secure no bank can touch it. If you lose your job due to Covid, and you hit with bunch of late fees because you can’t afford to by your insecure debt (credit cards) than what options does one have? Can’t find a good paying job due to the economy so???

[@atlantabankruptcy]

BK is a federal law and the federal bankruptcy statute governs the powers of trustees. In your situation I would consult with a local BK lawyer to see if BK is even necessary.

[@deeznutzz9864]

So a 100% plan, can i still keep bonuses from work or even plan a famiky cruise with no problem?

[@rebeccam5021]

If you are paying 100 percent on your bankruptcy can you pay it off early ?

[@user-qk4yu2kv1k]

Yes

[@therookiefisherman5234]

Chapter 13 is made to set you up for failure and chapter 13 attorneys are thieves.

[@eightup]

It like jumping into a pit with snakes to get your ball.