Old Laws, Allowed to keep bonuses?

[jenrw74]

We live in Ohio and filed in 2004. Our attorney assured us that we were allowed to keep my husband's bonuses and our tax refunds. The bonuses couldn't be counted as regular income because it isn't guaranteed income. Of course, we don't have to send in our returns every year either. In fact, we just paid off our ch. 13 after our 36th payment with our 2006 tax refund.

I was just curious to see if there were any other old law filers who were told they could keep these? Or does it vary by state or trustee?

[IN-DEBT]

bonus

I'm in Ohio and filed 8-2007. I just rec. my bonus and my attorney states that I will probably have to give it up. I was asked on a questionare at the 341 if I ever rec. bonus and I did not lie as every March there is that possibilty, this year was very big. My bonus is based on company and individual performance for the prior year. The last 3 years have been very good. However, this is not a sure thing. I'll have to see where it falls. I am under the new laws so a lot is being adjusted as we go.

[wayne-o]

In my job we are allowed to "cash-in" vacation time. When I did they took my chapter 13 payment from the money. I was told by my company and the trustees office that this was the same as a bonus. I cashed in 3 weeks but on the plus side they only took one payment since it was all one check.

[Peevee]

I'm in a 13 old law and have had bonuses and pay increases and they haven't asked for anything. I'm hoping to buy out in December and put this all behind me. Dec. 14 will mark 36 months and we have our fingers crossed.

[Flamingo]

We filed 4/02. I had one bonus in the summer of 2003 that was untouched. I had another situation of payout from a former employer who went bankrupt as to old sick/vacation time I was owed (over $3,000) and when I received that I reported it immediately to the attorney, who checked with the Trusteee, who advised I could keep it. Of couse when I notified the attorney I said I could definately use the money for a new computer and other household items that needed repair (computer was for daughter for schoolwork and ours was on its last leg). The Trustee allowed us to keep it. It's all up the Trustee and was a state thing. Under the new law, you are now required to report every payraise, bonus, etc. and whether or not you get to keep it is another thing. They keep track also by having you now supply all your tax returns each year so the Trustee can keep track of your income during your Plan. Under the Old Law, many did not have to supply tax returns. Now it is a requirement.

[aa06a47]

I just got a bonus, wrote my attorney concerning if I could keep it, then told her I needed a new suit for a special occassion, and she wrote back and said the trustee told me I could keep it. (it wasn't very big, but more than one of my normal payments)

[jenrw74]

I'm in a 13 old law and have had bonuses and pay increases and they haven't asked for anything. I'm hoping to buy out in December and put this all behind me. Dec. 14 will mark 36 months and we have our fingers crossed.

peevee--

We are exactly the same regarding the raises and bonuses, also tax refunds. My attorney made it clear that the trustee didn't really care about extra monies we'd be receiving throughout our case. I'm a worrier and have asked these questions to death and have actually KEPT the emails from them stating that we could keep them so I am covered in case someone questions it. Also, we have just sent our payoff. The trustee's office wanted to know where the payoff was coming from ($7600) and we told them it was our tax refund and they said 'fine'. Now just waiting for the whole discharge process.

[Peevee]

I hope everything goes well in the discharge process.