I'm working on a spreadsheet to calculate bankruptcy plan payments for work with very little Excel knowledge. I've gotten a few bare-bones things done with simple calculations, but not anywhere close to what we need.

We currently use TValue5, a loan amortization program. In that program, you input the interest rate (which sometimes is zero) and the loan amount, or total debt owed to that creditor. What I ultimately need to calculate is the monthly payment. The problem is that sometimes, certain creditors aren't paid in the first several months because the plans are designed to pay the attorney as soon as possible. In the program, you would then input $0 payment for 5 months (varies), and then solve for the unknown payment amount if paying off over the subsequent 55 months. The last payment is usually a balloon. I essentially need Excel to do for us in a spreadsheet what TValue5 does. TValue5 does a great job, but you can only do one creditor at a time and there is still some guess work involved in determining how many months will have no payment, etc.

The people always getting paid in the first several months (4 to 8, usually) includes the Trustee (10% of the total monthly payment), any creditors owed Adequate Protection (currently 1% of total debt for certain secured vehicle claims), and the remainder during those first months goes to the attorney. After the attorney is paid in full, the money is allocated between the rest of the secured creditors, the unsecured ones getting the remainder when everyone begins to get paid off.

Plans are either 36, 48, or 60 months in length, with the vast majority being 60 months.

If anyone has any clue as to how to accomplish this, please let me know! I know I didn't explain it as clearly as possible, so I can try to clarify something if needed. Thanks!!!