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amending chapter 13 any suggestions???

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    #1

    amending chapter 13 any suggestions???

    hello,
    due to loss in income i am meeting with attorney tomorrow to possibly have payments reduced. paralegal requested pay stubs and taxes. she also said to list any changes in expenses ex gas. any suggestions? please help. if i am not able to get my payment reduced im sure my case will get dismissed. i am 18 mos in and dont qualify for chapter 7 because of my daughters college fund.
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    #2
    Originally posted by brokenymom View Post
    hello,
    due to loss in income i am meeting with attorney tomorrow to possibly have payments reduced. paralegal requested pay stubs and taxes. she also said to list any changes in expenses ex gas. any suggestions? please help. if i am not able to get my payment reduced im sure my case will get dismissed. i am 18 mos in and dont qualify for chapter 7 because of my daughters college fund.
    I don't understand what your daughters college fund has to do with anything, unless for some reason it is in your name and can't be exempted. Suggestions? Bring everything you can for the paralegal that he/she asked for. That's all you can do. Good luck, I hope it works out.
    Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
    I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

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      #3
      thanks. it is an ugma (uniform gift to minors account). both names are on it and she will be a senior next year.

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        #4
        Originally posted by brokenymom View Post
        thanks. it is an ugma (uniform gift to minors account). both names are on it and she will be a senior next year.
        I take it that this type of account is not exempt and is therefore an asset (to you)? If that is the case, then depending upon how much value there is, you may not be able to lower your Chapter 13 payment enough to cover this asset as well as anything else in your plan that has to be paid. Let us know what happens please, and good luck to you.
        Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
        I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

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          #5
          Chapter 13 plans get modified all of the time due to changes in situations. Do as your attorney has requested and let them submit the plan for modification.
          All information contained in this post is for informational and amusement purposes only.
          Bankruptcy is a process, not an event.......

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            #6
            update- met with attorney today. was advised to continue making payments @ $630 month. said that due to income loss of $1300 month he feels confident he can keep the payment there. apparently 15% is the magic number for loss of income. i was @ 13% .

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