Second job in C13 While paying 100%

[cz3ch]

So I am in the middle of a mod since I had a pay increase, and now my plan will be confirmed on 5/11 for 100% payment to my creditors for the next 3 months to the sum of $2,115/mo.

I was approached by another company who wants me onboard and is offering a 70K salary and an immediate start.

If I decide to take the job, I will of course notify my attorney, send pay stubs, etc so he can file amended schedules if needed. But here's the situation

Job A. I intend to keep for a few months (they are the ones deducting my C13 payment)
Job B I intend to work in parallel, which would give me an additional 4-5K/mo DMI.
My total balance due to close my case is $6K approximately

So my question is...

1.) Since I'm in a 100% plan and all creditors are being paid 100%, besides reporting secondary income to my attorney, what do you think will happen?
2.) I'm already paying $2115 DMI but will have 4-5K extra DMI. Do you anticipate another mod when there's only 3 months left in my case? Or do think the trustee will say "he's 100%, let it ride and close his case"?

I talked to someone (think it was JB or LITR) who said that if I was in a 100% plan already (which I now am, previously was at 70%) that I am a trustee's wet dream and can pretty much do whatever I want as far as getting a second job and keeping the income.

Just wanted to get someone's take on this situation. So to recap. Job A pays out 2115/mo until July and I'm finished with the case. Job B comes online in 2 weeks and will give me an extra 4-5K in DMI. Just wondering if the trustee is going to take that too.

If my question/information is not clear please let me know and I will update.

[justbroke]

1.) Since I'm in a 100% plan and all creditors are being paid 100%, besides reporting secondary income to my attorney, what do you think will happen?

Nothing. A 100% plan requires you to payback 100% and that is it. There are no true restrictions on a debtor in a 100% plan. Everyone should be happy in a 100% plan; except the debtor.

2.) I'm already paying $2115 DMI but will have 4-5K extra DMI. Do you anticipate another mod when there's only 3 months left in my case? Or do think the trustee will say "he's 100%, let it ride and close his case"?

If you're in a 100% plan everyone will be happy in the end.

Your attorney "may" talk you into just paying off the rest of the plan early. However, you are just 2-3 months from finishing so it would be a complete waste of time, in my opinion, to go through the entire modification process (which can take 21+ days). I may be inclined to just follow the currently plan, $2,115 a month for next 3 months. I may also be inclined, if I have extra money, to make a double payment the 2nd month so you're done in month 2. This allows you some cushion in case "life" happens along the way.

Just wanted to get someone's take on this situation.

Oops... I'll let someone else says something.

[sophieanne]

I agree totally with JustBroke. Good luck and congratulations on the new job! (Great timing with your new start coming up )

[cz3ch]

Nothing. A 100% plan requires you to payback 100% and that is it. There are no true restrictions on a debtor in a 100% plan. Everyone should be happy in a 100% plan; except the debtor.

If you're in a 100% plan everyone will be happy in the end.

Your attorney "may" talk you into just paying off the rest of the plan early. However, you are just 2-3 months from finishing so it would be a complete waste of time, in my opinion, to go through the entire modification process (which can take 21+ days). I may be inclined to just follow the currently plan, $2,115 a month for next 3 months. I may also be inclined, if I have extra money, to make a double payment the 2nd month so you're done in month 2. This allows you some cushion in case "life" happens along the way.

Oops... I'll let someone else says something.

Thanks for chiming in as always, JB. You always give sound advice.

The only reason I asked about the 100% was that I read the sticky about 100% (it doesn't matter) in the C13 sticky thread. I assumed that if I magically come up with 4-5k, that the trustee would want that too. But if my current modification is paying 100% back to the creditors and my balance remaining is only 6K I think you are right that it would be a waste of time for the trustee to force another mod just to accelerate 2 months. This current mod has already taken 24 days and it confirms on 5/11. The attorney advised me that since I'm 100% in and only 3 months out the judge should approve the mod as the trustee has not objected and it's been 24 days so far.

I think I will take your advice and pay off the bankruptcy balance in month 2, so that I can exit my case in June. This is good thinking.

My only question is that of reporting my new income. My attorney is notoriously bad at getting my schedules amended and I want to be honest/truthful with the Trustee/Judge. So I'm assuming that once I get my first paycheck from the 2nd company I will just send that in to the attorney and let him make the Schedule I/J amendments? Or should I contact the trustee directly about my increase if my lawyer doesn't respond in a reasonable amount of time. My trustee is very hands off and I've only talked with his office once for a payoff quote/determining % of plan in 5 years. I just want to make sure I do everything by the book so there is no trouble or snags in closing my case and obtaining discharge.

Thanks again for your help, you've been amazing over the last 5 years!

[LadyInTheRed]

Don't contact the trustee unless your attorney tells you to. No amended schedules should be required because your plan is already going to be amended to pay 100%. Tell your attorney about the additional income just to be safe. Don't suggest he amend the schedules. Let him tell you if anything needs to be done. It is likely that any additional work is only going to cost you more money in attorney fees. If he doesn't get back to you, don't worry about it. Since you are going to pay 100% of all claims, there is nothing for the trustee or any creditor to complain about. When you have the cash available to pay off your plan, call your attorney and tell him.

[switch625]

I would go with that JB and LITR said. Consult your attorney on the best course of action. I view a BK attorney as a "sherpa" that can best guide you to the top and then back down the proverbial Mt. Everest that is your quest for discharge. They know the Trustee, the courts, the judges and whether you really need to modify your plan again. Leave it to your attorney to know the requisite amount of dotted "i"s and crossed "t"s the Trustee and Court needs to get you to discharge and completion of your plan.

[cz3ch]

Don't contact the trustee unless your attorney tells you to. No amended schedules should be required because your plan is already going to be amended to pay 100%. Tell your attorney about the additional income just to be safe. Don't suggest he amend the schedules. Let him tell you if anything needs to be done. It is likely that any additional work is only going to cost you more money in attorney fees. If he doesn't get back to you, don't worry about it. Since you are going to pay 100% of all claims, there is nothing for the trustee or any creditor to complain about. When you have the cash available to pay off your plan, call your attorney and tell him.

Thanks for chiming in LITR, you and JB have always been good to me. I will refrain from contacting the trustee and will just go through my lawyer. Once I get my first paycheck I'll send my attorney paystubs for the second jobs and make him aware of the situation. I will also refrain from suggesting he amend my schedules. I'll let him drive.

You're right, I'm paying 100% of the claims, have a 6k balance, and my case ends in July. So really anymore paperwork/mods would be a waste of the trustee's and court's time. But I will be diligent in disclosing my income to the attorney just to play it safe. I'm so close to discharge I don't want any technicalities to rock the boat and cause problems.

From my estimation I should be able to pay off the entire balance next month, so if I get to that point I'll contact the attorney, get a payoff quote, and write a check with a big emoji heart on it for the trustee (that last part was a joke)

[cz3ch]

I would go with that JB and LITR said. Consult your attorney on the best course of action. I view a BK attorney as a "sherpa" that can best guide you to the top and then back down the proverbial Mt. Everest that is your quest for discharge. They know the Trustee, the courts, the judges and whether you really need to modify your plan again. Leave it to your attorney to know the requisite amount of dotted "i"s and crossed "t"s the Trustee and Court needs to get you to discharge and completion of your plan.

Good advice and I concur with all three of you. I'm just trying to do it by the book. Unfortunately I have an attorney who take 2-3 weeks to respond to calls or emails. If I had to do this all over again I would have hired a better attorney who actually follows through in a more prompt manner. But at the same time I get that I'm just one in a thousand of his clients and since my case is on "auto pilot" I'm so low on his priority list I'll be lucky to hear from him by the time I discharge lol.