We have 5 months left until our 5 years will be done. I just accepted a new job and will be making about $12,000 more a year. I have not received a paycheck yet as that will not start until September. I realize that I will have to modify my plan and this seems to take a bit as we have had to do it before. How long do I have legally to contact them of an increase in income? I am hoping to be able to to take my time as all the extra income will go into the plan. But in 5 months it will all be worth it.
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Just contact your attorney. Until you actually start and are receiving the new amount, you may not be required to modify the plan. Depending on several factors, including whether this is more than a 10% increase, your percent to unsecured (current DMI), and the general feeling of your Trustee, they may not do anything.
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Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
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