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Questions Answered by Jeremy B. Shephard
1 Answer | Asked in Bankruptcy for Michigan on
Q: How much can a trustee take?

I am in Michigan and filing chapter 13. I have approximately 25k in unsecured debt. I am repaying the entire amount. After all of the payments it will total 48k. The trustee is getting almost 14k in payments. I interpreted it as the trustee was only entitled to a percentage (roughly 5%) of the... Read more »

Jeremy B. Shephard
Jeremy B. Shephard answered on Jan 18, 2018

I would recommend discussing any questions you have with your attorney. If you are a 100% Chapter 13 plan then you won't be obligated to pay more than all the creditors that file claims, the trustee commission, and your attorney's fees. There may be a small interest component paid to your creditors... Read more »

2 Answers | Asked in Bankruptcy for Michigan on
Q: How long should I wait before filing chapter 7 after having removed my name from my elderly mothers savings account?
Jeremy B. Shephard
Jeremy B. Shephard answered on Jan 18, 2018

A portion of the petition you'll complete to file for bankruptcy protection called the Statement of Financial Affairs will require that you disclose any financial accounts you were on within the last year. I agree with Attorney Keyes that you may not have to delay in filing your case at all if you... Read more »

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