Increase in income a month after 341

[Loveandlight]

Anone have experience if you get a promotion or new job shortly after your 341? Resumes are out there. Nothing signed, and obviously the idea is to do better, but we don't want out payments higher. Our 341 is in Feb.

[tobee43]

Loveandlight; welcome to the forum!!!

there are going to be a series of questions actually "standard" that the trustee will be asking you at your 341, one of those will be has there been any change in your income. most likely there is usually a question or two dealing with your employment, like what do you and how long etc. any change in income? do you expect an inheritance, etc.

you will have to answer those questions truthfully, or really it could come back to really hit you hard. i'm guessing you are filing for chapter 13 as you are referring to your payments becoming higher. the reality is, the court will more than likely consider your pay increase and readjust your payment schedule to reflect the increase.

[GoodyYearCap]

Oh I would absolutely be honest but I'm curious if my husband gets one of the positions he's applying for AFTER the 341... Nothing has come through yet, so that's the honest truth!

[tobee43]

Oh I would absolutely be honest but I'm curious if my husband gets one of the positions he's applying for AFTER the 341... Nothing has come through yet, so that's the honest truth!

are you and LoveandLife husband and wife LOL!!!

well, if it hasn't come through yet, i wouldn't worry at the time of the 341. however, i'm a chapter 7 person and i think one of our local 13 experts may chime in and may be better equip to let you know if and when or how often does the trustees revisit your income status, even after your plan is set up. that may be a real possibility.

[Flamingo]

Your BK filing is based on your financial status at the time of filing. If one or both of you change jobs and receive a higher income after your hearing, you need to contact your attorney as soon as you accept the new job. He/she will need all your new financial information for possible modification of your plan. Best of luck to you...