What Happens after Confirmation?

[lostandconfused]

Hello All,
Can somebody tell me what kind of microscope to expect after the confirmation? Basically, once everything is in place and the money is being repaid, what is to be expected in regards to any extra funds or employment I may come into? I've already been told to expect my tax refund to get sucked up, so this leads me to believe that any extra funds, raises, or other money gifts (very rare and very minimal) are going to be subjected to the court. Is this a valid concern. Please help and clarify....thanks.

[lrprn]

Can somebody tell me what kind of microscope to expect after the confirmation? Basically, once everything is in place and the money is being repaid, what is to be expected in regards to any extra funds or employment I may come into? I've already been told to expect my tax refund to get sucked up, so this leads me to believe that any extra funds, raises, or other money gifts (very rare and very minimal) are going to be subjected to the court. Is this a valid concern. Please help and clarify....thanks.

There isn't one answer we can give you because there's quite a variation between district and trustees in how they handle these situations. An experienced local bankruptcy lawyer can give you a good idea of what to expect with your trustee around tax refunds, extra income, job changes, gifts, etc.

Generally, income increases over 10% of your gross income and gifts over $1,000 will be of interest to most trustees. However, after filing your trustee will tell you or give written instructions about what he/she expects to be notified about.

[CityGirl]

Ok, now I'm confused. I was told by my attorney that I get to keep any tax refunds. They do not go to the Trustee.

[lrprn]

Ok, now I'm confused. I was told by my attorney that I get to keep any tax refunds. They do not go to the Trustee.

CG, whether a Ch 13 trustee wants your income tax return during your active case varies from district to district and trustee to trustee.

You are lucky - apparently your Ch 13 trustee is one that doesn't care about refunds. However, ours has asked to see our returns every year and will take anything over $2,000. Other trustees will take every penny. The law says nothing about this, so it depends completely on the trustee's preferences and your bk court's prior ways of handling tax refunds.

[$$only4ever]

I am under the old law and the trustee has never wanted to see my tax returns nor has he ever taken my tax refunds. I make my payment on time every month and stay waaaaaaaaaay under the trustee's radar.

[CityGirl]

I was told by my attorney that our trustee never asks for anything either and that he is too busy to be concerned. Thank GOD!

I am under the old law and the trustee has never wanted to see my tax returns nor has he ever taken my tax refunds. I make my payment on time every month and stay waaaaaaaaaay under the trustee's radar.