Modification question

[95kindebt]

Husbands income went up 15% we have to report anything over 10%, we also had a baby in sept 11. We are meeting with attorney to modify plan. Will we have another 341 meeting?
Nervous ;)
What documents do they require for a modification? Bank statementsmetc? Want to get prepared.

Anyone know about how much it
Ll be modified with having a new baby? We are paying $900/mo paying house and HEloc out of plan.

Thanks.

[steveok]

First...Congrats!

I think the attorney will just want to get a new income and expense budget prepared..

You shouldn't have another 341

Just some paperwork for the attorney to work out with the trustee!

[flowerchild]

Your attorney will modify your budget by the increase of income. Be sure you list all of your additional expenses, if any, that is being incurred with the new income (new baby = milk, diapers, doctors appt., etc.). Typically higher income means more money paid to the courts. They will want to see the proof of additional income and proof of expenses.

[tigergem]

I have done 4 or 5 modifications to my plan, and my Trustee has only one time asked for proof of my income and expenses along with that. However, it is my understanding that the Trustee can ask for anything he wants to at any time. I think the best rule is try to keep copies of income and expenses as you go along, so you can provide them if they are asked for. Any documents requested generally go to the Trustee and are not filed with the court. If the Trustee objects to your modification, DO NOT PANIC. Just read the objection very carefully and send him what he asks for. There will be a new confirmation hearing on modification, but not another 341 (unless this is a district specific thing, but I doubt it). A hearing date is always scheduled if there are any objections, and my Trustee's office generally does generate some objection to every modification. Not a problem, as the Trustee and I have always been able to iron out his objections before the hearing date. Sometimes all they really want is verbal clarification on some item. So don't be nervous! I attended my first confirmation hearing, but I have not attended any of my modification confirmation hearings only due to distance and gas. However, since you are represented by an attorney, you might want to go, just to be sure there are no surprises. From some of the threads on here, it seems "counsel" has a tendency to drop the ball sometimes.