Chapter 13 Questions

[kevinB003]

I Have 2 Questions That I Cant Seem To Find An Answer To On Any Website

1. If I Am Locked Into A Payment For 5 Years Can The Payment Be Lowered If I Take A Lower Paying Job,or If My Wife And I Have Another Kid Will The Payment Be Adjusted For The Extra Income Needed Now?

2. If I Take A Second Job Over And Above My Full Time Job Now Will I Get To Keep The Money Made From The Second Job?

Any Help On These Questions Woulb Be A Great Help, This Forum Has Already Helped Me So Much In Fiding Answerto Other Questions

[liz417]

I Have 2 Questions That I Cant Seem To Find An Answer To On Any Website

1. If I Am Locked Into A Payment For 5 Years Can The Payment Be Lowered If I Take A Lower Paying Job,or If My Wife And I Have Another Kid Will The Payment Be Adjusted For The Extra Income Needed Now?

2. If I Take A Second Job Over And Above My Full Time Job Now Will I Get To Keep The Money Made From The Second Job?

Any Help On These Questions Woulb Be A Great Help, This Forum Has Already Helped Me So Much In Fiding Answerto Other Questions

Hi there,
1. Yes, your attorney can file an admendment with the Trustee if your living situation has changed while in a ch 13 repayment plan.

2. Most likely not. It varies from district to district, some trustees require notification if there are any changes in your income, some require notification if there is more than a 10% increase. The extra income would be considered "disposable" therefore, it would go to the creditors. Ask your attorney, s/he would be more familiar with your district's policies.

Good Luck!

[kevinB003]

Thank You

Thank You Very Much For The Info