My question involves bankruptcy in the state of: Ga
We are in the process of filing for Chapter 13. Before trustee's fees our amount owed is 227,592. This includes a second and third mortgage. We are surrendering the home. We are above the median income so we will be in a 60 month plan. My question is this. To pay the amount over 60 months, my payments would be about 3800 plus trustee's fee. My Attorney says my payments will be 5000.00 because of our discretionary income. If I pay 5000 for 60 months, I will have paid close to 70000 more than my debts.
I have read a couple of opinions from judges that have said that you either pay 100% OR all of your discretionary income. My Attorney says it will be paid off sooner. I am probably looking at this the wrong way but it seems that in this case the Court would be forcing me to go against the fact that the law says we must be in a 60 month plan. !200 a month is a big deal in our finances with two kids in college, both of which are playing NCAA sports and are not allowed to work. Their scholarships are only partial. Sorry, That was probably too much info.
Thanks for any clarity you can give.

