Today I want to answer the question, how much is my Chapter 13 payment going to be? The answer to this question is going to depend upon a number of factors.

One factor is, do you have surplus equity in your property? If your property has equity or value above the amount of secured debt and above the amount of exemptions you’re allowed to keep, you’re going to have buy that equity back from creditors in Chapter 13 over 36 to 60 months.

We’re going to divide that equity by the number of months in your plan and that’s going to be amount that your Chapter 13 payment is going to be. So many times there is no equity in your assets and if that’s the case, you may not even want to consider Chapter 13, but if you do have equity, you are going to have buy that equity back from your creditors in the Chapter 13