2nd job and chapter 13

[frmrdwn]

If I am forced into a Ch. 13, can I get a second job to pay off sooner? I am assuming the trustee would see the extra income once taxes are filed (or I report the added income immediately, if that's the law), would they increase the amount of payments as my disposable income would be higher?

Just wondering- don't know if there are second jobs out there as first jobs are hard enough to come by of late.

[lrprn]

If I am forced into a Ch. 13, can I get a second job to pay off sooner?

Nice try. Unless you have filed a case where your unsecured creditors are getting 100% back (unlikely since you must be near the median to be asking about being forced into a 13), if you pay extra towards your 13, then you've proven to your trustee that you have additional disposable income and your monthly payment can go up accordingly.

Also if you pay more in a plan that's paying back considerably less than 100% to your creditors, the only thing that happens is that your creditors just get more of their claim back.

It's a no-win scenario for you. If you end up in a 13, you need to reconcile yourself to finishing out the required plan months paying the confirmed scheduled payments.

[frmrdwn]

Nice try. Unless you have filed a case where your unsecured creditors are getting 100% back (unlikely since you must be near the median to be asking about being forced into a 13), if you pay extra towards your 13, then you've proven to your trustee that you have additional disposable income and your monthly payment can go up accordingly.

Also if you pay more in a plan that's paying back considerably less than 100% to your creditors, the only thing that happens is that your creditors just get more of their claim back.

It's a no-win scenario for you. If you end up in a 13, you need to reconcile yourself to finishing out the required plan months paying the confirmed scheduled payments.

Thanks, lrprn. It probably sounds like I am trying to put one over on the trustee. I'm not. I just look at how my daughter and I are living now with way more expenses going out than coming in and wondering if there will ever be a way out. Besides, after working a full-time 50-60 hour week, there isn't room for a second job, let alone one that would pay for the extra childcare. It does look like most people eventually recover!

[Flamingo]

Thanks, lrprn. It probably sounds like I am trying to put one over on the trustee. I'm not. I just look at how my daughter and I are living now with way more expenses going out than coming in and wondering if there will ever be a way out. Besides, after working a full-time 50-60 hour week, there isn't room for a second job, let alone one that would pay for the extra childcare. It does look like most people eventually recover!

The biggest problem anyone has when in a Chapter 13 is the lifestyle change. It hits like a ton of bricks. Learning to cut back to bare bones and cope with increased gas and other costs is extremely hard when one is used to in the past whipping out the credit card to pay for it all and now that card is gone and it's cash only. I know it's hard but it is time to batten down the hatches and set a plan - make a budget; stick to it. You want to get through that Chapter 13 cause in the end it is well worth it. Learn to shop discount, stay home and eat, understanding friends and family now can be a big help to you as to household repairs, child care, etc. and you an reciproate in other ways...watch their kids, bake that cake for the birthday, etc., etc. More Chapter 13s fail because people just in them a few to several months realize just how hard it is going to be and there is no credit card rescue. Chapter 13 is the best budget teacher in the world...learn from this and you will carry on those new found habits and tools when you are discharged which will help you as to your financial and credit planning in the years to come...best of luck to you!