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Income Has Increased Since Filing:Help

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    Income Has Increased Since Filing:Help

    It looks like this year I will be about $8,000 over what I made last year and that is due to the fact that I am in the casino business and I never really know what I am going to make from week to week since I make tips.
    Another reason why my income has been increased is because on my shift we did without a primary supervisor for a long time and I got delegated those duties alot more last year then I have this year. It is common knowledge in the casino business that dealers generally make more than supervisors.
    Now the supervisor we have is thinking about quitting and going down south so he can deal and make more money. If that happens it will probably put me back in the same situation I was in last year, making less money. If the lawyer amends my plan and raises my payments to reflect what I made this year and I drop in income again that could pose a real problem for me.
    Even though my pay was $50,000 last year and it looks like I am on pace to make about $58,000 this year I have had a fairly substantial increase in my bills. My mortgage went up $50 a month due to escrow, my car insurance has gone up $75 a month, my HOA dues have gone up $18 a month and my homeowner's insurance has gone up $6 a month not to mention the increased prices in gas and food and I've been paying a $1,500 dental bill for my girlfriend who is considered my dependent.
    My question is: what is the likelihood that they will raise my payment on me? Also, do I even need to hand in my income tax statements for this upcoming year? I called the attorney's office a few months ago and told them that I was on pace to make more money this year and do I have to tell the trustee and her words were to me "unless you tell us that we don't know" which confuses me..won't the trustee see that if I have to send them my income tax statements? I'm confused..any help would be greatly appreciated.

    #2
    Originally posted by Dealer36 View Post
    My question is: what is the likelihood that they will raise my payment on me?
    Frankly, quite slim. Your increased living expenses likely offset most of the extra $666/month - likely not worth going after by your trustee's office.

    Also, do I even need to hand in my income tax statements for this upcoming year?
    If your trustee stated that your tax returns must be turned in every year, then yes, you absolutely must turn them in or risk being dismissed. If your trustee is one of the rare ones who doesn't want to see tax returns, then count yourself extremely fortunate.

    I called the attorney's office a few months ago and told them that I was on pace to make more money this year and do I have to tell the trustee and her words were to me "unless you tell us that we don't know" which confuses me..won't the trustee see that if I have to send them my income tax statements?
    Your attorney's office is telling you to 'play the game' and let the trustee discover any increase on your tax returns. If he/she chooses to do something about it, you'll be contacted. Your lawyer can deal with any request for information or file an amended plan that shows your increased income PLUS your increased expenses at that time to justify leaving your plan as-is.

    This is one of those situations where you meet the requirement to notify your trustee of increased income by sending your lawyer your yearly tax returns to give to your trustee during the length of your plan. What your trustee chooses to do with what is showing on your tax returns is up to him/her - it's out of your hands. And you've done nothing shady or illegal
    Last edited by lrprn; 08-06-2008, 06:47 AM.
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
    06/28/06 - 341 Meeting
    07/18/06 - Confirmation Hearing - not confirmed, 3 objections
    10/05/06 - Hearing to resolve 2 trustee objections
    01/24/07 - Judge dismisses mortgage company objection
    09/27/07 - Confirmed at last!
    06/10/11 - Trustee confirms all payments made
    08/10/11 - DISCHARGED !

    10/02/11 - CASE CLOSED
    Countdown: 60 months paid, 0 months to go

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