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2 more dependents added during 13 should I redo the plan? 30/60 halfway

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    2 more dependents added during 13 should I redo the plan? 30/60 halfway

    I'm wondering if I should try to get lower plan payments halfway thru my C13 repayment plan. I'm no where near a 100% plan more like 40%. Maybe convert to a 7? I don't want to lose my home equity of $60-$80K. Also my non dependent daughter is paying $500 mo. to live with me but this wasn't reported in the plan or at the 341. What do you think? Calling or writing to my lawyer doesn't get a response. TIA

    #2
    Your post from 2017

    https://www.bkforum.com/forum/before...er-341-meeting

    seems to suggest that you cannot lower your Plan payment as it appears you were required to increase it to cover the non-exempt equity in your property. Unfortunately, adding dependents does not mean you get to lower your Plan payment. If you wish to continue to keep your non-exempt assets, you are required to pay to your creditors what they would have received had you filed a Chapter 7.

    If you initially qualified for a Chapter 7 and no longer wish to protect the non-exempt assets then you might be able to convert.

    Your best course of action is to talk to your attny.

    Des.


    Comment


      #3
      Originally posted by despritfreya View Post
      If you initially qualified for a Chapter 7 and no longer wish to protect the non-exempt assets then you might be able to convert.
      That is the answer.

      I am thanking that despritfreya took the time to look up the old post, because I wouldn't have remembered about the non-exempt asset part.
      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog

      I am not an attorney. Any advice provided is not legal advice.

      Comment


        #4
        Lawyer says it's best to leave it as is. Thanks

        Comment


          #5
          I was hoping they'd recalculate my disposable income to lower my plan payment. Oh well just 30 payments to go...........

          Comment

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