Q about relocation

[zoomzoom]

My employer has just offered a position (a promotion).... the only problem is that it is in another state - just about 115 Miles from where I currently live. Has anyone had experience or know what are the chances of relocating? I am on month 16 of a Ch 13. This is a great opportunity for me and would hate to let it pass... my boss does not know about my current situation. Thanks.

[CATCHMEIFYOUCAN]

You can move as far as I know, as long as your still paying on the plan and of course let the Trustee know of your new location/address/etc.

CMIYC

[SinkingFast]

I believe you have to get your Case transferred from your current District to the new District. There was a Member who posted that's what they did.

http://www.bankruptcyforum.com/showt...tary+louisiana

They transferred their case from a Court in Hawaii to Louisiana.

[aa06a47]

My employer has just offered a position (a promotion).... the only problem is that it is in another state - just about 115 Miles from where I currently live. Has anyone had experience or know what are the chances of relocating? I am on month 16 of a Ch 13. This is a great opportunity for me and would hate to let it pass... my boss does not know about my current situation. Thanks.

Congratulations ZZ.... yes, you can move. Since your income will change, you'll probably have to redo some forms and might have to pay more per month with the increased income. Remember though, even if you end up paying more, that ends after 36 or 60 month but the increased income pays as long as your employeed.

[lostsoul23]

Speaking from my experience, when I tried to go the 13 route: I had filed in East TN, and moved to Ohio. I had to advise of the new job's address, and my new address, and then I had to make sure the payments were kept up until the new payroll area starting making the deductions. There is nothing keeping you where you are, and as mentioned by the other posters, as long as the payments stay up and you advise of where you're going to be, it's all good. Best of luck.

[SinkingFast]

Another thing to consider, too, is expenses to live.

You may want to take at least 2-3 months in the new area before you update your budget.

Rent, groceries, sales tax, gasoline, etc,........ All the prices may vary from what you're currently used to. Give yourself at least some time to have an idea of your routine expenses before you update your Plan.

Just because it sounds like an increase in pay doesn't mean you'll actually have more $$$'s left in your pocket on payday.

[zoomzoom]

Thanks for the advice!!! What about housing? What will happen if I have to sell my house in order to buy a new one, and/or rent? Would that $ be mine to keep for those expenses or will the Trustee want it?

[aa06a47]

Thanks for the advice!!! What about housing? What will happen if I have to sell my house in order to buy a new one, and/or rent? Would that $ be mine to keep for those expenses or will the Trustee want it?

You should be able to keep it, remember your plan was based and approved with you providing the unsecured creditors as much as they would receive in a chapter 7. Since I believe your old law, that basis was made at the time of filing bk with the exemptions and home value at the time. Once all those facts and figures were accepted, (I'm talking value of assets), they were set. Any appreciation was yours to keep.

I read in a bk book that the new law changed that. For example, if I sold my house now, I would only be allowed to keep the "exempt" amount. If there was apprication realized through a sale, the trustee could take it.

Hope this helps, however, please verify all this with your attorney or trustee. My advice is free, and you all know you get what you pay for!!!.

[zoomzoom]

THX for all of your advice. We have to evaluate this option carefully - will keep you posted.

[SinkingFast]

If you need to sell a house as part of the relocation, you're gonna have to get permission from the Trustee for that. The house is an asset of your Ch 13 BK Estate.

If/when you sell, you would be able to keep your Exemption portion of the proceeds. The Trustee could take the rest.

As an example,........ If your Exemption allows for a $10K Homestead Exemption,........... After the house sells, your mortgage lender is paid, and the costs to sell are paid,.......... You get to keep $10K of the proceeds and the Trustee can take the rest.

This situation is definitely something you need to discuss fully with your attny.