Promotion/Raise during Chapter 13

[Gettingstart]

I haven't filed yet, waiting the 90 day period after purchasing a car. That was recommended by our attorney.

My question is: if my husband or myself get a raise or a promotion during our chapter 13 payback time - will our payments be adjusted? How often do you have to go back and have income, etc. looked at during the payback time?

[Flamingo]

This is something that varies and you need to specifically check with your attorney. Anytime during your Plan that you experience a drop in your income that causes you to be late with payments of any kind or miss your plan payment, inform your attorney. When you experience an increase in income, you also need to advise your attorney but check with your attorney now about that so you will know when to do that since some advise to report any increase over a certain percentage and others want every increase reported.

Plans can be modified as to any rise or fall in income.

[Billssuck]

My attorney said to report any change in income that exceeds 10 percent. I too am expecting a significant pay raise in about 3 years.