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    Chapter 13 and new job

    I began the process for filing C-13 in September and have not filed yet. When I started I was working a temp job for $17/hour with no benefits. She figured that my payment would be about $100/month. I asked her if I had to tell her if I got a new job and she said "no, just if you move". I had no idea just how quickly I would get this new job.

    I start my new job on Monday and it does come with quite a few benefits that I am afraid might alter my C-13 payment. I am still making about the same at $17.60/hour but all the insurance is free which I'm sure is fine since that doesn't go through my paycheck. The one thing I am worried about is the company puts 10% of your salary into a 403b which comes out to about $300/month. I don't know if that shows up on your paycheck or if it just shows up in the fund. Is this going to be a problem?

    Also, since I now have the opportunity to contribute to a 403b am I going to be able to do this without getting trustee approval as long as I continue to pay my monthly payment? This was an eligible expense but since I wasn't doing it at the time I met with my attorney she left it off. My DMI is so low that if I put all the eligible expenses in I wouldn't be able to file C-13 so I don't want to mess it up by doing that.

    Should I even mention the new job to the attorney. She knows that it was a possibility when we met and didn't seem concerned and wished me good luck. She said unless I my income was increased by 25% or more I didn't need to worry about reporting it.

    Just freaking out a bit that this new job might mess things up.
    Filed 11/17/11 Chapter 13, 341 meeting 12/21/11. Plan confirmed 1/19/12 - DISCHARGED 12/16/15

    #2
    MOuntando, one thing I can say is that the 10% employer puts into the 403b is irrelevant - it's exempt the employer puts it into a tax exempt ERISA account - the 403b. (is it TIAA-CREF by any chance?)

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      #3
      Originally posted by IamOld View Post
      MOuntando, one thing I can say is that the 10% employer puts into the 403b is irrelevant - it's exempt the employer puts it into a tax exempt ERISA account - the 403b. (is it TIAA-CREF by any chance?)
      Since I have no idea what TIAA-CREF is I don't know. LOL...Well that is good to know. It's like getting about $1.50/hour more than my salary and it doesn't affect me. Got to love that!

      It's a self-insured church plan.
      Filed 11/17/11 Chapter 13, 341 meeting 12/21/11. Plan confirmed 1/19/12 - DISCHARGED 12/16/15

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        #4
        Tell your attorney about the job. Better to tell her things she doesn't need to know then to not tell her things she does need to know. I'm guessing that when she told you she didn't need to know about a new job, she was talking about after your petition was filed.
        LadyInTheRed is in the black!
        Filed Chap 13 April 2010. Discharged May 2015.
        $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

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          #5
          LadyintheRed as always is right!!!

          (TIAA-CREF - www.tiaa-cref.org) is the largest 403b administrator... a lot of non-profits- especially universities, etc. use them)

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            #6
            You will have to provide current paycheck stubs when you file, you may as well advise her of it now so that she is prepared and can provide accurate counsel to you.
            Filed Chapter 13 on 2-28-10. 341 completed 4/14/10. Confirmed 5/14/10. Lien strip granted 2/2/11
            0% payback to unsecured creditors, 56 payments down, 4 to go....

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              #7
              The property in the 403b is not part of the BK estate, it is held in trust for you as a beneficiary.
              So long as you don't touch it they have no claim to it.
              The only way it can be grabbed is by an IRS or state tax claim.
              filed chapter 13..confirmed...converted to chapter 7...DISCHARGED!

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                #8
                Not a expert but I think if they do thia automatically your ok it will show up. I had a government job a long time ago that required 5 percent. It is a good thing it will lower your tax bracket too.

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                  #9
                  oh that is good to know about the state and irs

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