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After this Friday, 6 payments remaining

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    After this Friday, 6 payments remaining

    Hey everyone. I've been slingin rock and dirt the last 3 months to burn off steam, so haven't been on here much. Hope all is well.
    Normally about the middle of July the trustee would inquire about our prior year tax returns and latest pay stub. That has not happened yet, this year.
    In 2019 I got a job with a new company, increased salary, etc. so it appears the trustee waited til 2020 to get a better idea about our increased income, and from July 16 til Sep. 20 or so we were in the 'raise the payment' process. As we were settling on a new number, we asked our attorney if we should expect another increase in payments this year. He asked the trustee; they did not anticipate, but would not categorically rule out a future increase. They did state, "if we get an additional #### for Class 4 we would be satisfied."
    Interestingly, shortly after we settled on the new payment, came my benefits election period. And surprise! My life insurance payments tripled, so yeah, that was pretty awesome. A punch to the face, and a kick to the groin, LOL! Long story short, my take home pay is about $60 less per month, than before we settled on the new, increased payment. It's not the end of the world but yknow... woulda been nice to get a break once in awhile. I figure, if we need to submit the 2020 tax forms and latest check, we can easily demonstrate there is no net gain in income over last year. In fact, we have a net Loss in income over last year. So, no soup for you <mr. trustee>!
    Assuming the trustee and their process(es) are 'a creature of habit', if there were interest in raising the payment, it would start in September, and our last payment is early February. So that would be 6 months worth. The rule of thumb is, if we increase income by 10% since the last increase, then the payment may increase. It is very unlikely I will get a 10% raise by February. Four times recently, I verified our total payments over 60 months will meet all the numbers in the plan. In fact, we will over-pay by $8.00. Maybe we can say, 'keep the change'. No, we want it back.
    Alrighty. Take it easy folks.

    #2
    Woohoo! Six months to go. Your Trustee is shrewd, indeed.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment


      #3
      Yep looks that way. Can you elaborate/what are your thoughts JB?
      Thanks!

      Comment


        #4
        Shrewd, I just mean that they are all on top of your income. While my income didn't vary more than 10%, my Trustee didn't seem as... concerned about my everyday life. I had many issues including HOA issues, emergencies, and a divorce which included interim maintenance, alimony, and a 401(k) split.
        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog

        Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

        Comment


          #5
          LOL uh, yeah, they are definitely 'on top of it' alright. Hover...hover.. hover... orbiting around us... eyes on target...

          Comment


            #6
            Zombie13 It's great you and Barbisi are coming down the home stretch.

            It really stinks the trustee wants to dig up money with only 6 payments left. You think they would just let lying dogs lay (or whatever that expression is), but I know they want the $ for the sake of the creditors and BK is not primarily to help us debtors.

            But with 6 payments left you can count down and know that soon enough it's OVER!!!

            I am not an expert. I just share my experiences in the Wonderful Wacky World of Chapter 13! Filed 3-30-18 Confirmed 7-11-18 Discharged 6-8-22

            Comment


              #7
              Congratulations for being down to 6 months 🙂. I am planning a big celebration when you and Barbisi let us know you’re discharged! Hoping the final months go smoothly….
              Filed Chapter 13 - 07/20/12
              Discharged 8/2/16

              Comment


                #8
                Originally posted by Carmella View Post
                Zombie13 It's great you and Barbisi are coming down the home stretch.

                It really stinks the trustee wants to dig up money with only 6 payments left. You think they would just let lying dogs lay (or whatever that expression is), but I know they want the $ for the sake of the creditors and BK is not primarily to help us debtors.

                But with 6 payments left you can count down and know that soon enough it's OVER!!!
                Thanks Carmella!
                So, the trustee has not requested the 1040 and latest pay stub, so perhaps we are done with that now. We were anticipating it though. Even if they do, we are earning $60 less per month, than when we agreed to the new payments.

                Comment


                  #9
                  Originally posted by sophieanne View Post
                  Congratulations for being down to 6 months 🙂. I am planning a big celebration when you and Barbisi let us know you’re discharged! Hoping the final months go smoothly….
                  Thank you sophieanne! We hope so as well.

                  Comment

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