Special exceptions

[Crozier]

Has anyone been granted a "special exception" for an eminent pay cut? What I mean is this: Your last 6 months wage was relatively high, but your future wage is going to be cut significantly. If BK is in your future, regardless, has anyone ever gotten a Chapter 13 payment that represents, the lesser wage, versus the past 6 month wage? I hope that makes sense.

Example: You make $7000 mo. now (and you have for the last year), but you know for sure your wages will be cut to $4500 mo. Will the court take that into consideration? Especially, if you were bk bound at $7000 per mo.

Just curious.

[rpg1977]

From what I understand, if you have a decrease in income, I think you can rework your plan. Someone correct me if Im wrong. That is why Im not too worried about my job. My husbands is stable and they based our payments on both of our paychecks. My job may be eliminated, so I figured I would just report the loss of income and the plan would be reworked. That is what my lawyer led me to believe anyway.

[DeadManCrawling]

I agree as far as I understand it.

The crappy part is that you will have to get a plan accepted based on current numbers and then, later, amend the plan once the lower numbers are actually proven.

This can make things very difficult and is why many folks try to hold out, avoid filing, until the new, lower, numbers are actually on the books, in the bank, and provable.

I may be wrong, and do hope someone will chime in, if so.

[rrockinggramma]

I would ask attorneys in your area what the past practice has been regarding this issue. I am sure that trustees right now are swamped as lots of people are filing bk and then to have to go back and amend those plans clogs up the system. So I would call around and find out past practice in your district and see if with letters from employment place stating NEW salary, if your plan could be based on that?