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Holiday pay on chapter 13

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    Holiday pay on chapter 13

    My husband works for the union. And every paycheck holiday pay and annuities are taken out and dispensed to a different account provided by union. We are in the process of a chapter 13 and informed attorney of income. Our question is does he surrender his holiday pay funds? Those funds are important for its used for rain out days and holidays which he doesn’t get paid for.

    #2
    That is something your attorney would have to answer. Are you going to be in a 100% plan or will you be paying back a less percentage? That will be one of the things the attorney will take into account when answering the question.
    Filed Chapter 13 - 07/20/12
    Discharged 8/2/16

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      #3
      As sophieanne wrote, it's something you'll need to ask about. In some cases, Chapter 13 debtor attorneys will calculate the annual "anticipated" bonuses into the calculation of the income on Schedule I. This means that the bonus is already calculated into the formula and you would not need to surrender the anticipated bonus. Put another way, unless the Order Confirming Plan states that you must turn over the anticipated bonus, you will likely not need to do so, unless it's significant and was never accounted for in the plan.

      I received bonuses as well but it was certainly factored into the plan (because my bonuses were in March and I filed in July so the 6 month lookback included it automatically. My bonuses, however, were not automatic and we never knew what we would receive until a month before it was paid.
      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


      I am not an attorney. Any advice provided is not legal advice.

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