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    General Question

    My husband gets a bonus once a year which we take home about 5000.00 will the trustee take this from us? When they look at our returns will they determine our payment by that which includes our bonus on it?
    Filing January 08.

    When a mistake becomes a lesson was it really a mistake?

    #2
    It is income, so it will be probably averaged out over 12 months and included in your previous 6 months income as forcasted income which will determine your disposable income. ( about $400/mo ) Our attorney took last years wages and averaged it out over the 12 months because we're commissioned and then added into our last 6 months of wages to determine our disposable. Everyone does things differently, and if you don't include that in your annual income, then your trustee asks for tax returns and sees the increase, he will raise your payment and have you make up the previous year that you didn't pay it. ( not DEFINITELY but likely )
    Filed: October 1, 2007 341: December 10, 2007
    CONFIRMED: December 10, 2007
    Payment: $825 / Mo. for 5 Years-29 MONTHS OF Pmts Down 23 to go!

    Comment


      #3
      Plan your Ch 13 filing so the bonus is *NOT* in the previous six months income. That solves your six-month income calculation problem.

      Now after you file, then the yearly bonus could be taken by your trustee. Depends on the local customs of your court and the habits of your trustee.

      Your lawyer can give you an idea if you might get to keep or have to surrender he bonuses to your trustee after you file Ch 13.
      I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

      06/01/06 - Filed Ch 13
      06/28/06 - 341 Meeting
      07/18/06 - Confirmation Hearing - not confirmed, 3 objections
      10/05/06 - Hearing to resolve 2 trustee objections
      01/24/07 - Judge dismisses mortgage company objection
      09/27/07 - Confirmed at last!
      06/10/11 - Trustee confirms all payments made
      08/10/11 - DISCHARGED !

      10/02/11 - CASE CLOSED
      Countdown: 60 months paid, 0 months to go

      Comment


        #4
        Irprn....ditto! ( she is so good! )
        Filed: October 1, 2007 341: December 10, 2007
        CONFIRMED: December 10, 2007
        Payment: $825 / Mo. for 5 Years-29 MONTHS OF Pmts Down 23 to go!

        Comment

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