reduction in income /increase in expenses

[brokenymom]

hello there,
hopefully someone has some advice for me. i am 18 months in chapter13 on a tiered repayment plan. presently i am paying $630 a month until august then my payment will rise to $1330. in the last 3months my hourly pay has decreased by $2 hour and i havent had a comission check as well (which was approx 2k takehome monthly). since i filed gas has risen over $1.50 gallon (good old ny). I have figured the increase in our transportation costs to commute is approximately $300 more a month than when we filed. has anyone recenlty ammended their plan based on these factors? i guess my 2nd question is since ny has changed bankruptcy exemptions back in december was anyone able to reduce their payments due to new exemptions and inflation? please help

[AngelinaCatHub]

hello there,
hopefully someone has some advice for me. i am 18 months in chapter13 on a tiered repayment plan. presently i am paying $630 a month until august then my payment will rise to $1330. in the last 3months my hourly pay has decreased by $2 hour and i havent had a comission check as well (which was approx 2k takehome monthly). since i filed gas has risen over $1.50 gallon (good old ny). I have figured the increase in our transportation costs to commute is approximately $300 more a month than when we filed. has anyone recenlty ammended their plan based on these factors? i guess my 2nd question is since ny has changed bankruptcy exemptions back in december was anyone able to reduce their payments due to new exemptions and inflation? please help

Can't help you on NY exemptions stuff. If you have major change as stated, you have not choice but to amend or convert to 7 if you are able to do so. 7 will give you total new start, but if you have assets it could bite a bit. It depends on your tolerance rate. Best I can tell you as what you have stated. 'Hub

[momofthree]

You do not get to change your base plan based on new exemptions being released. They remain what they were at the time of filing unless you dismiss your case and re-file under the new exemptions.

It sounds as though you have a minimum that you have to pay into your plan based on the ch.7 liquidation test (because you mentioned new exemptions). If that is the case, you may not be able to change your payment amount. However, if you are scheduled to pay more than the minimum required, then you should be able to amend your plan based on the decreased income and increased expenses. Check with your attorney. You may even be able to convert to a ch.7 or dismiss and refile a ch.7 under the new exemptions.