DH fired and on month 22 of 36 month plan

[kwnancy]

My DH just got fired from his job - corporate downsizing.

We filed chapt 13 under the old law (Florida). Our monthly payments have been able to be met and we actually have some $$ in the bank right now.

I'm afraid if we notify our lawyer the trustee will see the accumulated savings and take that $$. If he doesn't find a job with comparable wages would our payment be less or since we've been able to save some money by trimming our budget would the trustee be looking for the money we've been able to save each month? Basically our savings is what our car payment was - we paid it off outside of the plan but when our plan was confirmed, that $ was in our budget. When we filed we had 12 payment left on the car. When we paid off the car, we kept 'paying' the car payment but to ourselves instead of the credit union.

We are on month 22 of a 36 month plan. Our first instinct is to 'stay under the radar' and just keep making the payments as confirmed.

What do the experts think?

[lrprn]

My DH just got fired from his job - corporate downsizing. ... We are on month 22 of a 36 month plan. Our first instinct is to 'stay under the radar' and just keep making the payments as confirmed.

The risk of laying low for 14 months is what happens if DH doesn't find a job right away or finds one that makes significantly less than he's been making and you can't make your payments. (Unless of course, you've managed to put away quite a little nest egg that can pay your payments for the next 14 months....is that the case?)

Sometimes it feels like no matter what you do, you can't win. You budget well and stick to it by doing without to build up a little cushion for emergencies, then life steps in to deliver a sound kick to your rear. Now you have to worry about losing what you honestly saved for two years....just isn't fair.

Whether that money is at stake or not depends on the state you live in, how much cash is allowed in your accounts (probably much less that you have), and how an amended plan is handled in your district. For sure call your bk lawyer tomorrow and talk over your options. Keep us posted on what you find out, ok? Sure wish this wasn't happening to your family

[helpless]

Are you old law 13 or new law 13? I think that you would have the option of converting to a 7 if you were old law because there is no six month income average. I had a friend that was in the same position and that is what they did. They were discharged and three weeks after discharge he found another job.