Somebody please help with this one

[brokenymom]

To make a long story short, I have been in chptr 13 since 11/09. My plan was tiered to go up 6/11 due to 401k loan being paid off. The increase was from $630 month to $1330. In the last year I have taken a significant decrease in pay (about 30k) . Attorney is trying to modify to keep me @ $630. My husband who did not file recently raised his deferred comp from 10% to 13% approx $300 month due to the fact he is looking to retire within 3years. Our finances are completely seperate. Trustee wants explanation of why he did this. The idiot paralegal told me to figure out the difference 3% would make when he retires and to call back with a figure. Has anyone ever heard of this? I have no idea what to do or what to tell him. I cant afford the increase in payment and as I explained the bankruptcy is my problem not his . Somebody please give some useful insight on this one. Thank you in advance

[newbie2]

To make a long story short, I have been in chptr 13 since 11/09. My plan was tiered to go up 6/11 due to 401k loan being paid off. The increase was from $630 month to $1330. In the last year I have taken a significant decrease in pay (about 30k) . Attorney is trying to modify to keep me @ $630. My husband who did not file recently raised his deferred comp from 10% to 13% approx $300 month due to the fact he is looking to retire within 3years. Our finances are completely seperate. Trustee wants explanation of why he did this. The idiot paralegal told me to figure out the difference 3% would make when he retires and to call back with a figure. Has anyone ever heard of this? I have no idea what to do or what to tell him. I cant afford the increase in payment and as I explained the bankruptcy is my problem not his . Somebody please give some useful insight on this one. Thank you in advance

Actually, the bankruptcy is both your problem, as you are married and his income is taken in to account when looking at "household" income. Your own income decreased by $2500 a month. That is huge. Your paralegal is trying to get the cold hard figures on that as well as your husband increasing his deferred pay and satisfy the trustee at the same time. Give them what they need to help you, and I hope it works out for you.

[brokenymom]

Thanks. The big question is they are looking for a figure of how much the 3% increase will his retirement down the road. I have no idea how to determine 10% vs 13% and cash value when he retires. The paralegal was looking for an amount. Couldnt even find the answer on google.

[newbie2]

You could ask your husband to contact his retirement plan and ask for what the difference will be. Surely they have some idea. Good luck.