Job offer

[lsutton1974]

We are almost one year into a 5 year plan. I have been offered a position making $14,000 more a year then I currently make. Do I have to report this, we are paying back 100%. Also since we filed I have had a baby and our expenses have increased with Child Care, Formula, diapers, wipes, baby food, etc. I am sure you get the point. I never reported these expenses. I am not sure what to do.

[lrprn]

We are almost one year into a 5 year plan. I have been offered a position making $14,000 more a year then I currently make. Do I have to report this, we are paying back 100%. Also since we filed I have had a baby and our expenses have increased with Child Care, Formula, diapers, wipes, baby food, etc. I am sure you get the point. I never reported these expenses. I am not sure what to do.

There's a lot of variability in how Ch 13 trustees handle increases in income that are going to continue more than a few months. Some want to know if your income increases more than 10%, others want to know about any increases in income, and still others don't care if you have an income increase or not. Did your trustee ever give you any instructions (verbal or written) about what he/she wanted to be notified about?

You need to call your lawyer. He/she should be familiar with how your trustee typically handles this situation. Lay out the increase in your income and that your family size has now increased by one with the baby's increased expenses that were not included in your original plan. Your lawyer can advise you how best to proceed. Your lawyer can always file an amended plan that reflects not only your increased income, but also your increased family size and new expenses for the baby as well. It may be a wash when the Means Test is redone. Keep us posted what you find out, ok?

Good luck - hope everything goes your way!

[lsutton1974]

Our trustee couldn't have been more vague, she said nothing about taxes, income, new baby, nothing. I will call my lawyer and see what he reccomends, it would raise it by more then 10%. But who knows when he will call me back.

[SinkingFast]

One advantage I can see to bumping your payments,.......... It should get you outa BK Jail sooner. You're already in a 100% payback plan. If the Trustee decides to increase your Plan Payments, that should mean you'd get done quicker.