In this episode, Luke breaks down one of the biggest questions people have about Chapter 13 bankruptcy: “What will my monthly plan payment be?” He explains the formula behind the calculation, what factors affect your payment, and how it can change over time. Luke also discusses how income, secured and priority debts, administrative costs, and even life events all come into play. If you’ve ever wondered how Chapter 13 payments are structured and why they differ for everyone, this episode will give you the full picture.

What You’ll Learn in This Episode

• What a Chapter 13 plan payment covers and how it works
  
• How your income, debts, and assets determine your monthly amount
  
• The difference between 0%, 100%, and partial repayment plans
  
• How secured debts like car loans and mortgages are handled
  
• What happens to back taxes and child support in bankruptcy
  
• How administrative fees and trustee costs are factored in
  
• Why your plan payment might change during the 3–5 year period
  
• How objections from creditors or trustees are resolved
  
• What to expect when calculating your payment during consultation
  

Key Timestamps

00:00 – 02:00 — What is a Chapter 13 plan payment and why it matters
02:00 – 04:30 — How income affects whether you pay 0%, 100%, or somewhere in between
04:30 – 07:00 — How secured debts are handled: cars, mortgages, and arrears
07:00 – 09:30 — Understanding priority debts like taxes and child support
09:30 – 11:00 — Administrative costs and how they’re built into your payment
11:00 – 14:00 — How your final monthly payment is calculated
14:00 – 16:00 — What happens if your income or expenses change
16:00 – 17:30 — How objections from creditors or trustees are handled
17:30 – 19:00 — Luke’s advice for getting a realistic estimate before filing

Show Description

If you’re thinking about filing for Chapter 13 bankruptcy, one of the first things you’ll want to know is what your monthly payment will look like. In this episode, Luke explains how those numbers are calculated, what goes into the formula, and how your payment can change over time. From understanding secured and priority debts to knowing what to expect at each step of the process, this episode is your guide to navigating Chapter 13 with clarity and confidence.