TT objects to plan

[Lissy]

I checked Pacer last night and saw that my TT filed an unfavorable recommendation for confirmation. I expected that because at my 341 hearing, he said he had to do so because of one of my expense lines was overstated. But then he turned to my atty and said they would probably confirm it anyway, so I wasn't too worried about it.

Well, the document on Pacer shows multiple objections to my plan. The first is that my potential lawsuit is not committed to the plan. (I was in a car accident last month where the other driver was at fault.) I told him I wasn't planning to file any lawsuit, but I suppose they want it spelled out in the plan should I change my mind. No biggie, we can add something because there will never be any lawsuit.

The thing that is really bothering me is that the second objection says the TT believes my income is understated because it does not include my bonuses. Before I filed, I knew I might get a bonus, but I didn't know for sure or how much it might be. I was asked directly at my 341 and I told him they aren't guaranteed every year, but that I had received one this year and how much it was. He didn't say anything at the time, just wrote it down. Now this. If my company has a bad year this year, I won't get a bonus next year. I don't care if they want the one I got this year, it's still sitting in my bank account. I just don't want it to increase my monthly payment amount because if I don't get one next year (or any year after that), I won't be able to afford my payments. I'd rather just give them a lump sum when/if I get bonuses. Anyone know if I can do that? I can't imagine the judge would confirm it now, not with these additional objections. *sigh*

[newbie2]

I checked Pacer last night and saw that my TT filed an unfavorable recommendation for confirmation. I expected that because at my 341 hearing, he said he had to do so because of one of my expense lines was overstated. But then he turned to my atty and said they would probably confirm it anyway, so I wasn't too worried about it.

Well, the document on Pacer shows multiple objections to my plan. The first is that my potential lawsuit is not committed to the plan. (I was in a car accident last month where the other driver was at fault.) I told him I wasn't planning to file any lawsuit, but I suppose they want it spelled out in the plan should I change my mind. No biggie, we can add something because there will never be any lawsuit.

The thing that is really bothering me is that the second objection says the TT believes my income is understated because it does not include my bonuses. Before I filed, I knew I might get a bonus, but I didn't know for sure or how much it might be. I was asked directly at my 341 and I told him they aren't guaranteed every year, but that I had received one this year and how much it was. He didn't say anything at the time, just wrote it down. Now this. If my company has a bad year this year, I won't get a bonus next year. I don't care if they want the one I got this year, it's still sitting in my bank account. I just don't want it to increase my monthly payment amount because if I don't get one next year (or any year after that), I won't be able to afford my payments. I'd rather just give them a lump sum when/if I get bonuses. Anyone know if I can do that? I can't imagine the judge would confirm it now, not with these additional objections. *sigh*

Talk to your attorney and see if he/she can get the trustee to agree to "any bonuses to be sent to the trustee" instead of including the last one in your income. I've heard of this taking place before, it's not unusual.

[lrprn]

Keep in mind that just because the trustee has objections doesn't mean they are a done deal. That's why you have a lawyer - to counter the trustee if the objections are unreasonable.

Having objections in Ch 13 is normal. You need to put on your patience hat, because the objections will have to wind their way through the process until they are resolved. Luckily your lawyer and the trustee will compromise on the majority of objections by the time you have your confirmation hearing. Whatever doesn't can still disappear if your lawyer can show the objection is unfounded or can be proven to be unreasonable given the case law interpretations in your local court, bk district, or in another bk district elsewhere.

We had two objections from our trustee which went all the way to our local bk court judge for a decision after 15 months. He ruled in our favor on one and in the trustee's favor on the other (our Ch 13 set case law for our bk district back in 2007 ). It is possible to win over the trustee even if a trustee won't compromise on an objection - we're proof!