Legal Question in Bankruptcy in Utah

Chapter 13 Banruptcy - When income increases during payment plan

After the confirmation hearing and during the 60 month payment schedule, if one's income increases, does one have to notify the Trustee, and will the payment required be increased?


Asked on 11/21/97, 7:10 pm

1 Answer from Attorneys

Patrick A. T. West Ohio Ticket Defense Patrick A. T. West, Attorney at Law

Chapter 13 - change in income

Whenever there is a change in income in a Chapter 13, the debtor may petition the court to amend the plan to tailor it to the changed income; however, there is no requirement that be done. You may make additional payments to the CHapter 13 Trustee voluntarily from your increased income and complete the plan sooner than expected. The sooner the plan is completed, the sooner you get your discharge and don't have to fool with the Chapter 13 Trustee any more.

==========================================================If applicable to this message: "This transmission does not create an attorney-client relationship. I will not be rep-resenting anyone without a written agreement signed by all parties. Answers to questions are for general information only and should not be construed as legal advice in any particular jurisdiction. If you need legal advice for a specific legal problem seek the services of a knowledgable attorney in your area or locale."===========================================================Where people fear the government, you have tyranny. Where the government fears the people, you have liberty. Thomas Jefferson===========================================================

Read more
Answered on 11/22/97, 4:10 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in Utah