top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Plan end questions

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Plan end questions

    Our five years will end in less than six months and I have a situation brewing.
    I am in a position that I will almost certainly receive a significant pay increase and bonus between now and the end of the plan. Previous plan mods that have occurred due to salary increases have taken months.
    My question is, what happens during the trustee audit at the end specifically. Do they request any records of me? And will my 2012 tax forms be requested even though by then the ch13 should have closed?

    Thoughts?
    260 weeks down / 0 to go! Awaiting close & discharge.

    The only real mistake is the one from which we learn nothing. ~John Powell

    #2
    As far as the tax forms go I am not sure .... but the audit is more internal to the trustee's accounts, making sure that they paid who they were supposed to and they shouldn't ask for anything further from you as long as all payments were made.
    (that is, unless you are really unlucky and are one of the handful of cases .. I think it is like 1 in 1000... that gets fully audited by the US trustee)

    Comment


      #3
      The trustee's audit only has to do with checking to make sure that all of the stipulations in the Chapter 13 plan are/were fulfilled. The US trustee audit, if it occurs, only occurs at the beginning of a Chapter 13, not at the end.

      The fulfillment of the Chapter 13 plan guarantees the discharge. If your plan end in 2012, you do not have to submit anything else to the trustee the following year.

      Comment


        #4
        If your increase occurs during your Plan you will need to inform your attorney of this increase. As indicated above, the trustee audits one's Plan after the last payment is received and all creditors are paid in full according to the Plan. Discharge normally occurs about 3 months or so after the last payment is received by the Trustee but the Trustee will usually send a letter detailing what is to come and how long it will take. I would bring this possible increase to your attorney's attention and follow his advice/instructions.
        _________________________________________
        Filed 5 Year Chapter 13: April 2002
        Early Buy-Out: April 2006
        Discharge: August 2006

        "A credit card is a snake in your pocket"

        Comment

        bottom Ad Widget

        Collapse
        Working...
        X