We had our modification hearing in June 2008 and had our payments lowered. Our paperwork says the dividend to unsecured creditors shall remain at 20 to 70 percent and that any plan payment arrearages be forgiven. What does that mean? (Sorry, I am not to smart on legal language) Kinda understand what the 20 to 70 percent thing means, but what does the "plan payment arrearages be forgiven" mean? The reason I am asking is..the trustee gets any bonuses that my hubby earns. She (trustee) has been getting these bonuses since we filed in Oct 2007. Hubby earns bonuses about every other month ( $50.00 to $200.00) well, last week his company gave him his bonus check. Did the company mess up? Or is this what she meant by the arrearages be forgiven? I didn't contact the lawyer and ask him because he said before we ever filed not to tell the trustee anything about bonuses. We had to tell her because she ask ( they showed up on his w-2's). Should we contact the lawyer or let it slide? We have already cashed the check ( paid bills) but now I am worried. Thanks!!
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According to the online dictionary I just consulted, it looks like the arreages are going to be forgiven--that is a past debt is being forgiven. I would contact the attorney though, just in case.
Good luck! Let us know so that we can play the Hamster Victory Dance for you...."To go bravely forward is to invite a miracle."
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That's what I read also. But what confused me was the "any plan payment arrearages be forgiven. No other terms of Chapter 13 plan shall be modified" Gee! Wish they would use simple everyday language!Comment
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