Bankruptcy Forum

Payment Change Question

dovette7
03-15-2007, 02:37 PM
341 Meeting is April 10th. I know my plan payment will be going up. Payments are coming out of husbands check automatically each week. If the payments go up and the plan is confirmed in May, will I be responsible for the "difference" in the 1st proposed payment and the confirmed one from Feb through May/

Also I am in real estate. Husband has a regular paycheck. I do no. Plan payments are based on me making $0. But if I do bring home commission checks and it ends up being more than 10% of what we filed making, how does that work? I would have no idea when the next commission check would come. Would they change my plan payment and then change it back if I didn't sell anything later OR would they consider it a lump sum like an inheritence would be?

aa06a47
03-15-2007, 03:38 PM
341 Meeting is April 10th. I know my plan payment will be going up. Payments are coming out of husbands check automatically each week. If the payments go up and the plan is confirmed in May, will I be responsible for the "difference" in the 1st proposed payment and the confirmed one from Feb through May/

Also I am in real estate. Husband has a regular paycheck. I do no. Plan payments are based on me making $0. But if I do bring home commission checks and it ends up being more than 10% of what we filed making, how does that work? I would have no idea when the next commission check would come. Would they change my plan payment and then change it back if I didn't sell anything later OR would they consider it a lump sum like an inheritence would be?

With your current payment plan based on you making "0", then that is what you should try and make. Anything you make will more than likely have to go to the trustee. Since that income is not part of the plan, I would assume it would be considered a lump sum payment and all that would go to the trustee.

Sorry, but sounds like in the grand scheme of things, you would be better off not working. I would definatly ask your attorney.

SinkingFast
03-15-2007, 08:31 PM
I held off working to keep us in Ch 7. We were a scant $6K below the Median. If I had worked, my income would have blown that out of the water.

While you do have some expenses associated with working, basically you can count the bulk of your Net would go to the Trustee.