Hearing to retain Bonus

[deepinit]

In December I received a $5000.00 bonus from work - $3300 after taxes.

I sent copies of new medical bills and car repairs to my attorney for him to file a motion for us to retain the bonus. ( We did this last year and it worked out fine).

I got a letter from the trusttee last week stating that I should pay $1000.00 into the plan since that was what my ins. company would pay on one of my bills. I then got a letter today requesting a hearing to retain the bonus in front of a judge. If one or both parties do not show up the judge will determine based on the infromation provided to him what happens to my bonus.

I will contact my attorney on Monday but I ws hoping that someone here might have some experience regarding this and be able to tell me what to expect.

By the way just made our 22nd payment - almost 2 years down out of 5 - cant wait for it to be over!!!

[despritfreya]

It sounds like the Trustee is not entirely opposed to your request. However, to the extent insurance is covering some of the medical bills, he sees no need for you to retain the entire net bonus. Since he is partially opposed to the Motion the Court has set a hearing on it to decide if the partial opposition is justified. Obviously, to be sure, you need to ask your attny. Sounds like the worse case is that you get to keep $2,200 of the net $3,300.

Des.

[forgotten]

The creditors will be so happy to each get an extra $20 gross revenue up. Work hard, get a bonus, mail it in!

Some days I wish I would have just quit my job for 3-4 months and filed a CH7 instead of a CH13. If I could have been sure I could have gotten a new job I would have done that and enjoyed keeping my $60k instead of sending it in to creditors over the course of 5 years.

[andy158]

If you are in a 100% plan I could see surrendering the bonus to shorten your total payments. Otherwise I would bank it toward your emergency fund. Our attroney said that any bonus I get I can keep if it stays under 10% of my gross wages. Not to worry though. No bonuses for the last 2 years

[LadyInTheRed]

If you are in a 100% plan I could see surrendering the bonus to shorten your total payments. Otherwise I would bank it toward your emergency fund.

A debtor doesn't get to choose whether they can keep a bonus. How much, if any, of a bonus a debtor can keep, depends on the trustee and/or the plan.

[goon]

A debtor doesn't get to choose whether they can keep a bonus. How much, if any, of a bonus a debtor can keep, depends on the trustee and/or the plan.

But if the plan/trustee stated that the debtor can keep the bonus, the debtor could choose to contribute it to pay the plan off quicker as stated thou you would only want to do this if you were in a 100% plan).

[LadyInTheRed]

But if the plan/trustee stated that the debtor can keep the bonus, the debtor could choose to contribute it to pay the plan off quicker as stated thou you would only want to do this if you were in a 100% plan).

I get that, but the post I responded to implied that somebody who is not in a 100% plan has a choice.