While each district has slightly different variations of calculating the monthly payment, the example below provides a general idea of how the Chapter 13 Plan Calculator works.
The figures in this plan are calculated below.
Mortgage Payment: $212.00 (Based on monthly payment listed in the Asset Table)
Total Mortgage Payment Made Through Plan: $12,720.00 (Mortgage payment of $212 multiplied by plan length of 60 months)
Total Secured Debt: $7,000.00 (The total amortized balance of all secured claims where the treatment is to be paid inside the plan. Mortgage claims are only included when the treatment is selected to pay the mortgage in full through the plan in which case the Secured Balance of the mortgage claim is included)
Total Lease Debt: $300.00 (Includes the amortized balance of all lease claims where the treatment is to be paid inside the plan and the amortized balance of all lease arrears claims where the treatment is to be paid inside the plan)
Total Priority Debt: $3,200.00 (This is the total amortized balance of all priority claims where the treatment is to be paid inside the plan)
Special Treatment Total: $300.00 (This field includes the amortized balance for all unsecured claims with special treatment. ***It does not include any unsecured claims where the treatment is to be paid outside the plan.
If the unsecured special treatment is to be paid as a long-term claim to maintain payments and pay inside the plan, the claim monthly payment multiplied by the plan length would be added to this field.
If the unsecured special treatment is to be paid as a long-term claim to maintain payments and cure arrearages inside the plan, the claim monthly payment multiplied by the plan length would be added to this field and the amortized balance of the resulting unsecured arrears claim would be added to this field.
If the unsecured special treatment is to maintain payments outside of the plan and cure arrearages inside the plan, the amortized balance of the resulting unsecured arrears claim would be added to this field.)
Total Unsecured Debt: $200.00 (This is the total balance of all unsecured claims with no special treatment)
Total Unsecured to be Paid Through Plan (Pot): $50 (Total Unsecured Debt of $200 multiplied by the unsecured percentage of .25)
Attorney Fees: $1,200 (Based on figures in Miscellaneous > Attorney/Credit Counseling Fees)
TOTAL DEBT: $24,770.00 (Total Mortgage Payment Made Through Plan + Total Secured Debt + Total Lease Debt + Total Priority Debt + Special Treatment Total + Total Unsecured Debt + Total Unsecured to be Paid Through Plan (Pot) + Attorney's Fees)
Trustee's Fee Amount: $2,477.00 (Total Debt of $24,770 * Trustee's Fee of .10)
GRAND TOTAL: $27,247.00 (Total Debt of $24,770 plus the Trustee's Fee Amount of $2,477)
Plan Payment Needed on Schedule J: $242.11 (This is the amount of disposable income needed to fund the plan. If the mortgage is to be paid conduit, the mortgage payment will not be included)
Current Income from Schedule J: $4,650.00 (This shows how much net income is available after all expenses are applied from Schedule J to the monthly income in Schedule I.
Total Plan Payment: $454.11 (Grand Total / Plan Length)
You can also download your Chapter 13 Receipt for additional insight on the plan's calculations:
