Expenses

[roger_221]

Do you have to tell the trustee every time your expenses change?

For example, let's say that I get on a plan. Then I decise to drop a life insurance policy that I'm currently paying $100/a month for. What happens then?

I am really worried too that my 'real' disposable income is going to come out at about $100/month and they are going to require me to pay back a lot more and I don't know how I will survive with 3 kids?

For example, my kids take ADD medicine and all our medical expenses add up to about $450 a month. I am really concerned.

[lrprn]

Do you have to tell the trustee every time your expenses change?

No. Trustees want to know about significant changes in income or expenses (typically over $1000 in expenses/month or more than 10% income increase - but be careful, some trustee will tell you they want to know about ANY income increase.

For example, let's say that I get on a plan. Then I decise to drop a life insurance policy that I'm currently paying $100/a month for. What happens then?

If your plan is confirmed, then you just saved yourself a cool $100/month

I am really worried too that my 'real' disposable income is going to come out at about $100/month and they are going to require me to pay back a lot more and I don't know how I will survive with 3 kids?

You won't know what your monthly payment will be until your lawyer completes the Means Test along with all the Schedules. All of us worry we are going to get pushed into a payment we can't afford. That's why we pay our Ch 13 lawyer to optimize our legitimate expenses to match up with what the trustees in your area allow.

For example, my kids take ADD medicine and all our medical expenses add up to about $450 a month. I am really concerned.

Save all documentation (pharmacy and doctor bills, checks sent, etc) around these costs until you file to prove this is what you consistently pay. Our medical costs were much higher than average also (hubby is an insulin-dependent diabetic and I have some chronic health problems). During our 341 our trustee said "your medical costs are high" but once we explained why during our 341, that whole discussion died immediately. I had made copies of all our medication and doctor bills back for a year to prove what we paid (we averaged over $500/month), but we ended up not having to use them - whew!)

Just keep asking your lawyer all these questions too - hopefully you will get the answers that help you feel a little less stressed. Hang in there and keep asking questions here too - we'll help whenever we can.

[Ortgeist]

we have high med bills, too

Our lawyer told us to keep receipts. So we kept receipts of all of the psychiatrist visits, medication copays, and counseling visits. That is just the bare minimum.