Legal Question in Bankruptcy in Kentucky

Ch 13 Payments - Temporary Suspension?

Am 2 years into our 5 year Ch 13.

It is a 100% repayment plan where

we will most likely be paid at the 50

month mark.

Due to a summer layoff (that will

end in mid-august), our income has

fallen below the BK threshhold and

in fact has been cut in half, allowing

for us to pay food, and those bills

approved outside of the

bankruptcy.

Would a request to Modify the

Petition for a two month (July and

August) stay likely be approved

given that we have not missed any

payments, and would be able to

resume on Sept. 1 with no issues?

Or would we be better off asking

for a temporary reduction in

payments (like 500 instead of the

$1,100 that we are currently on the

hook for).

(I recognize this is a question for

our BK attorney, but am stressing

about this over the weekend so am

just looking for a general answer)

2 Answers from Attorneys

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