I am preparing to file ch 13. My wife and I have salaries that are quite low at this point and we just make ends meet without paying the cards. If I am offered a new job with a significantly higher salary(double or triple current pay), how will that affect my my filing or will the court revisit my plan if the job comes along after I am in 13? Even with the new job our debt from personally guaranteed business loans is still outlandish, so a 13 is still the preferred option for us.
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Basalt..
Hello, without offering any legal advice, due to the fact I am not an attorney. It would not matter whether you received an increase in your income prior to or after your filing you must under law report those increases. Now, each court has their minimum amount, so this would be a question for your attorney to answer with regards to how much would you need to report to your trustee. If your salary happens to increase while in the plan you may be subject to an increase in your plan payments, again this is whether your amount of increase meets the threshold or not.
Please do not ever attempt to hide any increase of income from the court. Because they can require an audit, even though most of the trustee's are so overwhelmed with cases they would never think to do so. But, you never know and if so, they find you failed to report your increase it could subject your case to be dismissed without prejudice.
I have a question: did you say your personal and business income/expenses are being filed under chp 13 together? Is your business structure an LLC? or sole proprietorship?
[Removed Solicitation]Last edited by HHM; 01-16-2009, 08:06 AM. -
Thanks Wealth2009, we were an S corp and all of this debt was personally guaranteed. Some of the debt was in the form of a personal loan to the corp.Comment
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