Getting Fired and starting a new job?

[ltrain823]

Hello everyone, I have been notified from an insider at my work that I am about to get laid off soon so I did what anyone else would do and that is look for another job

I was making $76k a year at my job any my bk payment is $250 a month.

In the tough times out there now I was actually surprised to get a job so quick but I had to settle for a $50k a year salary with a new employer. This is obviously much less than what I was making before and I know I'm not going to be able to afford the $250 a month...what happens in this case? Do I get converted to a Ch. 7? If so what are the consequences? I will still be able to manage making my mortgage payments with this pay decrease so my biggest concern is my home.

I would really appreciate anyone explaining what would happen in my situation. Thanks in advance

[chloe0724]

You need to contact your attorney ASAP. This is a huge deal. You may be able to convert, but it's a long process. You need to let your attorney know so that the 13 is not dissmissed for lack of payments.

[Flamingo]

I had a similar situation in 2002. What you need to do is contact your attorney and advise of the job change. Your Plan will probably be modified and your attorney will determine all that. You will need proof of employment from your new employer and also proof from your present employer that you have been laid off and that you will or will not receive any severence.

[ltrain823]

I am actually planning on resigning so I wont receive a severance pay. The reason for me resigning is because I am afraid that this job opportunity that is available to me now wont be later so I have to make the jump now.

[Flamingo]

I am actually planning on resigning so I wont receive a severance pay. The reason for me resigning is because I am afraid that this job opportunity that is available to me now wont be later so I have to make the jump now.

Advise your attorney. You will get a letter from your new employer stating what you make and when you start. Your attorney will need a copy of that. Also provide him with a copy of your letter of resignation to your present employer and any correspondence they give you as to your resignation. You may/may not receive payment for unused sick/vacation days and that information will need to be provided to your attorney also. Until you actually leave your present employer and start your new job, your plan cannot be modified or converted as your circumstances do not change until that time. Make certain you have proof of some sort that you would have been laid off inasmuch as there might be an issue as to why you resigned to take a lower paying job.