Ok, let me preface this, this is just a twinkle in my eye at the moment. Alot of potential details are very far from worked out but I want to see if this is even remotely feasible. This is all kinda pie in the sky but I don't want to spend alot of time chasing grants and whatever else, if it just isn't going to work.
I am about halfway through a 5 year plan, confirmed over a year ago.
Let's say that I created the opportunity to start a business (possibly a non-profit, would be providing STEM educational services and facilities to jr. high students/sr. high students/adults). Would receive seed money either in the form of grants and/or large donations and/or investors. My idea is that the business would "hire" me at (or near) my existing salary. There would also be other employees (and rent and equipment and various other business expenses)
Would there be an issue with this in an active 13? Would the trustee need to see the details of the business, would he have any claim against the businesses resources/income? I would personally be making the same amount that I am now and making the same plan payments, and copying him on my personal tax returns like normal.
If there are potential issues, does it matter that based on allowed claims* I will end up at a 100% payment of claims, or within a couple hundred dollars one way or the other, it is hard to say for sure because the actual % ($ amount) the trustee is collecting for himself seems to change every month and is all over the board.
I also realize that the fact that I am in a 13 might preclude me from any of the funding methods listed above, but assuming I get past that.
Thank you in advance.
* - 100% of Allowed Claims but not 100% of the scheduled (which shows higher)... my second mortgage never modified their claim from secured to unsecured after home foreclosed, so the trustee is not paying them.
I am about halfway through a 5 year plan, confirmed over a year ago.
Let's say that I created the opportunity to start a business (possibly a non-profit, would be providing STEM educational services and facilities to jr. high students/sr. high students/adults). Would receive seed money either in the form of grants and/or large donations and/or investors. My idea is that the business would "hire" me at (or near) my existing salary. There would also be other employees (and rent and equipment and various other business expenses)
Would there be an issue with this in an active 13? Would the trustee need to see the details of the business, would he have any claim against the businesses resources/income? I would personally be making the same amount that I am now and making the same plan payments, and copying him on my personal tax returns like normal.
If there are potential issues, does it matter that based on allowed claims* I will end up at a 100% payment of claims, or within a couple hundred dollars one way or the other, it is hard to say for sure because the actual % ($ amount) the trustee is collecting for himself seems to change every month and is all over the board.
I also realize that the fact that I am in a 13 might preclude me from any of the funding methods listed above, but assuming I get past that.
Thank you in advance.
* - 100% of Allowed Claims but not 100% of the scheduled (which shows higher)... my second mortgage never modified their claim from secured to unsecured after home foreclosed, so the trustee is not paying them.