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  1. #1
    Join Date
    Apr 2014
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    7

    Default When Do Chapter 13 Payments End

    My question involves bankruptcy in the state of: Michigan
    I have paid off all creditors last month according to the National Data Center Website. There was a surplus of funds that was left over after last months payment and I just made another monthly payment. I paid monthly starting with July 2009. My plan wasn't confirmed until Oct 2009. My questions are. Will the payments end in June (60 payments) or October (64 payments)? Will the discharge take place sometime in July or October? Also what happens to the surplus funds? I've read some places on the web that they are returned to me but others, including my attorney, say that the excess funds go to creditors. Kind of confused. Thanks

  2. #2
    Join Date
    Sep 2005
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    Behind a Desk
    Posts
    98,846

    Default Re: When Do Chapter 13 Payments End

    From what you have told us, you haven't paid the full sixty months of the plan yet. How is it that there is already a surplus, with your having repaid more than the total amount you were ordered to repay under the Chapter 13 plan?

  3. #3
    Join Date
    Apr 2014
    Posts
    7

    Default Re: When Do Chapter 13 Payments End

    The National Data Website shows that there is no principal or interest balance remaining to any of the creditors. There is a surplus on hand left over that hasn't been paid to anyone. I don't know why there is a surplus left over. And yes I have only made 58 payments.

  4. #4
    Join Date
    Sep 2010
    Posts
    478

    Default Re: When Do Chapter 13 Payments End

    Either ask your attorney or call the Trustee (if you do not have an attorney). If you have paid all "allowed claims" in full your Plan should be over. You simply need to know if you have completed the Plan by paying 100% of the allowed claims or if you still need to make the payments through month 60.

    Des

  5. #5
    Join Date
    Jun 2014
    Posts
    2

    Default Re: When Do Chapter 13 Payments End

    Quote Quoting jbbumper
    View Post
    The National Data Website shows that there is no principal or interest balance remaining to any of the creditors. There is a surplus on hand left over that hasn't been paid to anyone. I don't know why there is a surplus left over. And yes I have only made 58 payments.
    We are having the same problem! Are you in Ohio?

  6. #6
    Join Date
    Apr 2014
    Posts
    7

    Default Re: When Do Chapter 13 Payments End

    No, Michigan

  7. #7
    Join Date
    Apr 2014
    Posts
    7

    Default Re: When Do Chapter 13 Payments End

    Well now the trustee's auditor changed the percentage to a higher rate than original one. I have made sixty payments and now have an outstanding balance due to creditors even after the trustee used the surplus to pay creditors because of the higher percentage rate. I will now have to make at least 3 more payments to pay them off. Also, my attorney has requested extra funds from the trustee for their time. There won't be enough to cover the creditors and the extra attorney fees with just the 3 payments. This just doesn't seem right.

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