What would my chapter 13 plan payments be?

Fill out the Instant Chapter 13 Plan Calculator Below and Find Out!

How does our Chapter 13 Bankruptcy repayment plan calculator work?

Cisowski Law Chapter 13 Calculator is an algorithm that uses 4 pages of information from the user and combines them with a number of assumptions, legal rules, and standard variables to reach a precise approximation of what your Chapter 13 repayment plan monthly payments would end up being.

The following assumptions are made:

  • Your Chapter 13 repayment plan will pay the filing fee of $310
  • The plan will pay a fixed amount for trustee fees depending on the amount distributed to creditors
  • Your expenses fairly match the average expenses for your state
  • If your state allows for federal exemptions, which are more favorable than state exemptions, then federal exemptions will be used.

The following legal rules are implemented:

  •  Your Chapter 13 repayment plan must pay the maximum of either (1) minimum payments to secured creditors; (2) at least as much as your creditors would receive in a liquidation (best interest rule); or (3) your income over your expenses (disposable income rule).
  • If you decide to surrender any vehicles, you will pay the vehicle loans as unsecured.
  • Your vehicles are assumed to be 910 claims, but a reduced rate of interest may be paid. The calculator assumes 6.5 percent interest on secured vehicles.
  • If you are catching up a mortgage, your mortgage arrears will be paid an caught up.
The following standard variables are used:
  • When implementing the best interest rule, we assume a sales commission fee of 6 percent, and a chapter 7 trustee fee of 6 percent.
  • Payroll deductions from wages include federal income taxes, social security and medicare taxes, as well as deductions for insurance
  • When implementing the disposable income rules, national standards are used for food, clothing and other items; regional standards are used for transportation expense; and local standards are used for  housing and utilities expense.

The goal of our Chapter 13 repayment calculator

chapter 13 bankruptcy payment plan calculator being prepared by an attorney

I initially wanted to add a fun and simple chapter 13 calculator for my prospective clients in Eastern Tennessee; however, I noticed more and more people using it from areas far and beyond rural Tennessee. Once I started to get traffic hitting this page and calculator, I worried people were using it and getting poor information since it was calibrated for Tennessee filers.

I spent some time redesigning the calculator with a new goal in mind: being easy and accessible to filers all around the county, as well as being a fairly accurate tool to help prospective filers decide whether or not to file Chapter 13 bankruptcy. I am happy how the calculator turned out. It includes detailed calculations for anyone in the United States and US Territories.

I hope you are able to get use of this calculator.

Producing a quick and easy chapter 13 repayment calculator requires the use of a few assumptions. Although these assumptions hold in the majority of cases, they do not always apply. This is why it is important to seek independent counsel.

Calculator assumptions

Chapter 13 plan legal rules

The calculator follows three primary confirmation requirements of the Chapter 13 plan: (1) plan feasibility; (2) best interest requirement; and (3) disposable income test

  • Feasibility: The Plan must pay at least enough to cover secured debt, trustee fees, filing fee, and attorney fees.
  • Best interest requirement: The unsecured creditors must be paid at least as much as they would receive if property was liquidated and distributed.
  • Disposable income test: the debtor must pay into the plan all income received above and beyond their basic necessary living expenses.

This plan calculator uses a number of variables so it can work depending on where you are, and your income and asset circumstances.

  •  Standards of living change depending on your location. The Chapter 13 plan calculator changes to use precise regional and local expense standards.
  • Legal laws change across state lines. Depending on where you live, the calculator takes into account differing state-based legal rules
  • Certain types of income may be taxable while other is not. Depending on your income profile, the calculator will automatically make adjustments.

Repayment variables

Provide us with feedback!

This calculator is constantly changing with the law and with the support of its users.
Cisowski Law would appreciate feedback to improve its use.
If you would like to embed this calculator on your website, please contact oliver@cisowskilaw.com.

Contact us if you need any bankruptcy assistance