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flashoflight
Senior Member
Joined: 10-25-2019
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  • flashoflight
    replied to Freaking out a little....ok A LOT!
    Make sure you have your tax withholdings correct. Don't know how you ended up with IRS debt, but no more borrowing from the IRS to pay the groceries or the trustee. That should reduce your disposable income by quite a bit.

    As long as you get annual raises at work, you will eventually...
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  • flashoflight
    replied to Property Owned and chapter 13
    Your plan payment is driven by the highest of non-exempt equity paid to unsecured creditors, means test result, or disposable income. If you have $50k in non-exempt and $10k in case expenses, you'd need to pay $60k in the case. If your disposable income is greater than $1k/month over 60 months ($50k+...
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  • flashoflight
    replied to 6 Months into Chapter 13
    Around my area, trustees monitor income via annual tax returns and almost always do nothing even if you get a big raise. Some trustees will require notification of any job changes but otherwise no notification of any other income changes. No more bank statements after initial filing even with a motion...
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  • I'd let the lawyer run your numbers because so many things affect the payment amount. The chapter 13 payment could be a lot lower than your minimums even with a 100% plan. That deed the the house and car equity might be a problem and force you to pay more as non-exempt assets. If you have too much in...
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