top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Chance to earn $60k, would trustee take it all?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Chance to earn $60k, would trustee take it all?

    My wife may have the chance to earn $60k to be paid in a lump sum.
    This would be 1099 income from a job (in addition to her regular salary).

    Would we have to turn it all over to the trustee? We owe way more than that on the 13, it could in no pay pay it down enough to end the 13 early.

    If the trustee is going to take it all, there is no need in her doing the extra work to earn it.

    My guess is yes... but would it be possible to negotiate with the trustee before it is earned? Say... if she opts to earn it we get to keep half?
    Filed CH13 - 06/2009
    Confirmed - 01/2010

    #2
    I can't even think about trying to guess what's on the mind of your Trustee. Unless you're already in a 100% plan, which I think you're not, you have agreed to submit all disposable income to the custody and control of the Trustee.

    Now, if there are some important medical needs and/or home repairs, you could negotiate with the Trustee on those items. However, if it's truly disposable... you need to turn it over to the Trustee.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment

    bottom Ad Widget

    Collapse
    Working...
    X