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New Job, Higher Pay! - Does this effect my 'plan'?

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    New Job, Higher Pay! - Does this effect my 'plan'?

    I have been offered a new job with higher pay! This is wonderful news but I am concerned that with my increased income, my payment plan will change, and any increase in earning will be garnished by the courts to repay debt Is this likely?

    Also, What if I were to work a second job? Here again my income would go up. Are those earning also subject to garnishment?

    #2
    I asked a similar question to a bk attorney today.
    He said that once the deal is done it is done.
    However current law allows the trustee to request
    current financial records that could lead to a
    a higher repayment.

    The attorney said that it would be highly unlikely for
    that to occur. He is bk certified in texas and has
    been doing this for 25+ years.

    Comment


      #3
      It depends, typically no, they do not arbitrarily increase you plan payment. But remember, the trustee will see a copy of your tax returns for each year you on the payment plan (you are required to turn over a copy). If your income significantly increases, the trustee could conceivably request you increase your plan payment.

      Comment

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