Chapter 13: Will the trustee want more money halfway through bankruptcy?

[Anonymous]

Hi,

I'm new to this site and started the long Chapter 13 journey on 11/30/15. We just had our 341meeting and working with our attorney towards confirmation hopefully by mid-Feb..

My car loan (paid out of the plan) and a 401k loan will be paid off in 2 years. Will the trustee want that money, earmarked for those payments originally, to go towards my monthly payment to my creditors?

I live in San Francisco, CA (if that makes any difference).

Thanks!

[despritfreya]

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MamaJSF wrote: My car loan (paid out of the plan) and a401k loan will be paid off in 2 years. Will the trustee want that money, earmarked for those payments originally, to go towards my monthly payment to my creditors?

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This is really a question for your attny.  In general the answer should be "yes". 

You are required to devote your disposable income to the Plan for the applicable commitment period.  If your expenses knowingly will reduce because payments on loans paid outside the plan end during the commitment period, you disposable income knowingly will increase.  As a result your Plan payment should increase.  

Des.

[Anonymous]

Your payments are set for the term of the BK. As things get paid, the money moves to other things to get paid. Good luck!