!3, bonuses...etc.

[Guidance]

Ca someone please explain to me how a 13 works? I just received a call from the attorney and was told that we will more than likely have to pay 250ish a month. What happens when your income increases? Bonuses? Does it get re-evaluated at the end of every year?

I'm scared to death about a 13 and I'm not sure why????

[SMinGA]

Unfortunately, the only answer is 'it depends'.

If your income goes up, your plan may be modified to show the increased income. You'd also have the ability to modify if your expenses change. I think most districts are not going to bother with minute changes, would be too much time & hassle. If your trustee requires a plan revision for income increases, it may be based on a percentage. Such as if your income goes up 10%.

For bonuses, it also depends. If its a random one time, not guaranteed sort of thing it probably won't change your plan unless its a major amount. If its regular, it should be accounted for in your plan/budget.

[sharina]

each case is different - ask your attorney - they should know what common practice is in your area as to whether in your case they would be looking to capture funds like you mention. It may also depend on the percentage you are paying back whether or not, your case will be monitored more closely if they can gain a larger payback to unsecured creditors.

[klandsb]

It appears that every district & every trustee is different ... I asked my attorney more than once about income tax returns & bonuses.... He stated my trustee has no interest in seeing your tax return or taking any bonus unless it was a huge amount... I dont get a huge bonus and its never guaranteed so I am just holding my breath about both issues....I think your attorney would know what your trustees does and doesnt want.