So I made a previous post about the cram down of our car loans being a headache... Well, the trustee also sent a letter stating that the past two years we have received large tax refunds, and therefore, we need to change our withholdings, and increase our payment because we'll have more disposable income. Here's my question... we actually qualified for a 7 based on the means test (were negative) but opted for a 13 because we wanted to keep the house and were behind on the mortgage, AND because we were able to cram down our car loans. So, hypothetical...
We were -200 a month on our means test
Increasing our withholdings so we don't get a large tax refund gives us an extra 300 a month
Would our payments go up that entire $300 of "extra disposible income" or only an extra $100 (since if we had increased our withholdings before filing, those expenses that make up the $200 would have been included and our determined payment would have been 100 more than it is now)?
Did I explain that correctly? I have a message into the atty to find out but thought in the meantime I'd see what you guys think...
Thanks!!
We were -200 a month on our means test
Increasing our withholdings so we don't get a large tax refund gives us an extra 300 a month
Would our payments go up that entire $300 of "extra disposible income" or only an extra $100 (since if we had increased our withholdings before filing, those expenses that make up the $200 would have been included and our determined payment would have been 100 more than it is now)?
Did I explain that correctly? I have a message into the atty to find out but thought in the meantime I'd see what you guys think...
Thanks!!
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