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    Payment Change Question

    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?
    Filed: Feb 15, 2007
    Confirmed: Sept 20, 2007
    21 months down
    39 months to go

    #2
    Originally posted by dovette7 View Post
    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.
    Chapter 13 Filed 4/03/06 :blink: 341 Meeting Complete 5/11/06 :yes2:
    Plan Confirmation 6/16/06 :yahoo:
    Discharged: 1/5/2010 :yahoo::yahoo::yahoo::yahoo:

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      #3
      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.
      Filed Ch 7 - 09/06
      Discharged - 12/2006
      Officially Declared No Asset - 03/2007
      Closed - 04/2007

      I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

      Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

      Comment

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