How much of a debtors income must be paid to the chapter 13 trustee under a chapter 13 plan?
Usually all of the disposable income of the debtor and the debtor’s spouse for a minimum of three years and a maximum of five years must be paid to the Chapter 13 Trustee. Disposable income is income received by the debtor and his or her spouse that is not reasonably necessary for the support of the debtor and the debtor’s dependents. In some cases, your payments to the Trustee may have to exceed what would normally be your disposable income if you are contributing to a retirement plan, repaying a loan to your retirement plan, keeping an excess number of vehicles, keeping luxury items such as boats, campers, etc. Also, in cases where your plan proposes a less than 100% repayment of unsecured debt (credit cards, medical bills, personal loans, etc.), the Trustee will require a portion of your tax refund to be paid into your plan, in addition to your regular plan payment.
Usually all of the disposable income of the debtor and the debtor’s spouse for a 3 or 5 year period must be paid to the chapter 13 trustee. Disposable income is income received by the debtor and his or her spouse that is not deemed to be necessary for the support of the debtor and his or her dependents.
Usually all of the disposable income of the debtor and the debtor’s spouse for a three-year period must be paid to the chapter 13 trustee. Disposable income is income received by the debtor and his or her spouse that is not reasonably necessary for the support of the debtor and the debtor’s dependents.
Usually all of the disposable income of the debtor and the debtor’s spouse for a three-year period must be paid to the chapter 13 trustee. Disposable income is income received by the debtor and his or her spouse that is not reasonably necessary for the support of the debtor and the debtor’s dependents. However, if the debtor earns more than the median income in the state he resides he or she may be forced to be in a five year plan.
