Oak Park bankruptcy attorney states that under Chapter 13, you as a debtor must submit all of your disposable income towards the repayment of your creditors. Disposable income is a mathematical calculation based upon your income and your expenses and now a means test and a current monthly income test. Basically, if you are putting all of your available income towards the Chapter 13 repayment plan, the trustee is going to be satisfied with that and he or she is going to recommend your case for confirmation.
The amount that you have to pay has to be consistent over a 3 to 5 year period. There are things such as step plans where the amount you paid per month can increase over the life of your case. You will see an increase in certain cases whereby a debtor is paying off a 401(k) loan and once that 401(k) loan ends, there is substantial increase in income that can be paid towards a Chapter 13 trustee. The amount that you pay again is dictated by your income from all sources as well as your reasonable and necessary expenditures.
The IRS guidelines are used to determine how much you have to pay per month over time to a Chapter 13 trustee. If you run into a situation where the trustee and/or attorney are not agreeing on the amount that you have to pay per month, then that issue can be taken before the bankruptcy judge who will render a decision on how much you need to pay towards your Chapter 13 each month.