Modification of a chapter 13

[freeme0215]

Hello

I am in a current 13 but I have had income lowered by $1200 a month. The change in income and the fact that I am no reaffirming the mortgage and surrending the home are my reasons for modification.

Before I commit to this modification, I have questions:

1) What is the timeframe from filing of a notice to modify and modification(that is if all goes well)

2) What documents are required to be given to the trustee to achieve the modification?

3) In Florida can social security lump sum back pay be taken, or is this an exemption? I have placed in a separate bank account and the money from SS is the only money in there.

Thanks

[lrprn]

1) What is the timeframe from filing of a notice to modify and modification(that is if all goes well)

The answer depends on your trustee and the typical timeframe it takes your lawyer to get the modification request filed and the local bk court to rule on it. It varies widely across the country.

2) What documents are required to be given to the trustee to achieve the modification?

Your lawyer will fill any required plan modification documents out and file them with your local bk court.

3) In Florida can social security lump sum back pay be taken, or is this an exemption? I have placed in a separate bank account and the money from SS is the only money in there.

Retirement social security is protected in bankruptcy. Your trustee can't touch it.

However, if your social security is related to a disability, then that can under certain unique circumstances put it at risk.

See http://www.thebklawyer.com/thebkblog...nd-bankruptcy/ for a good discussion of social security benefits in bankruptcy.