A good tip for keeping track of your chapter 13 plan payments

When someone files chapter 13 bankruptcy they typically have to make 60 monthly payments to their chapter 13 bankruptcy trustee.   The chapter 13 trustee’s in Colorado don’t send out a monthly statement telling your what your payment is, when it’s due or how many more months you have left to pay.   The total burden of making timely monthly payments is on the debtor.

So ….. how can you tell how many payments you’ve made and how far along you are in your bankruptcy then?

Here’s an awesome and simple trick I learned at a recent tax class I attended that one practitioner uses to help her tax clients keep track of their tax payments:

If your chapter 13 payment is $200 per month, then put an extra penny in each check that corresponds to that monthly payment.   For example

  • Trustee Payment #1: $200.01
  • Trustee Payment #2: $200.02
  • Trustee Payment #3: $200.03
  • and so on and so on ….
  • Trustee Payment #60: $200.60.

This will help you keep track of how many payment you’ve made and also whether the trustee has cashed that check.

I think that’s a pretty cool and simple trick.


May 9th 2013 |

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