When Will My First Trustee Payment Be Due? What About My Mortgage?
Maybe the most important question I get one filing a Chapter 13 bankruptcy on behalf of a Lehigh Valley client is white is my trustee payment due, and when is my mortgage payment due.
Generally speaking your trustee payment will be due 30 days from the date of filing. If you file your bankruptcy on September 2, your first payment to the trustee will be due by October 2. In the Eastern District of Pennsylvania, payments are sent to a company called Ramapo, which is in Memphis, Tennessee, so it’s best to send your payment out approximately 10 days prior to the due date if possible. Also, make sure your payments in certified funds, either certified check or money order or the payment will be sent back to you.
Your mortgage is a little different. Most mortgages are due on the first of the month, which is why when I strategize about when to file, generally I suggest filing on the second of the month. Filing on the second of the month gives you a full 30 days until your first mortgage payment after filing bankruptcy is due.
If your payment is due on the 15th of the month and you file your bankruptcy in September 2, your next mortgage payment is due September 15. It goes the same way with other secured creditors (car loans etc.) that you are paying outside the Chapter 13 plan, so if your car loan is due the 20th of the month, the first payment due after filing bankruptcy on September 2 will be September 20.
If you have fallen behind your mortgage want to save your home, calling me at 484-661-2891 or e-mail me at Jim@padebt911.com and we can set up your free, no obligation consultation.
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