I've been working the same job for over 2 years (and over a year since my chapter 13 plan has been confirmed). I recently got a job offer making slightly more (+3k/year) at a new company but it's closer to home and a better opportunity as far as my career goals are concerned.
That being said, my old employer wants to keep me on the payroll to handle the transition period for a month. So effectively I will be collecting two paychecks for 1 month until I leave the old employer.
My question is. How does this affect my plan? Since it's such a short time of increased income, will I need to have the Trustee modify my plan? I'd hate to have to modify for a temporary increase in income (1 month). How are things like this typically handled?
I'm currently in a 5 year plan with claims of around 17k so my current plan payment is pretty low. I was told previously that if I took a job making significantly more money than I would need to modify my plan to pay out more DMI over the period. Since I have a lower debt claim I've calculated a max (100%) to be approximately < $400/mo which is doable with the 2nd job. But I couldn't afford that amount if the modification was permanent and working one job.
Any advice or suggestions would be greatly appreciated.
Thanks!
That being said, my old employer wants to keep me on the payroll to handle the transition period for a month. So effectively I will be collecting two paychecks for 1 month until I leave the old employer.
My question is. How does this affect my plan? Since it's such a short time of increased income, will I need to have the Trustee modify my plan? I'd hate to have to modify for a temporary increase in income (1 month). How are things like this typically handled?
I'm currently in a 5 year plan with claims of around 17k so my current plan payment is pretty low. I was told previously that if I took a job making significantly more money than I would need to modify my plan to pay out more DMI over the period. Since I have a lower debt claim I've calculated a max (100%) to be approximately < $400/mo which is doable with the 2nd job. But I couldn't afford that amount if the modification was permanent and working one job.
Any advice or suggestions would be greatly appreciated.
Thanks!
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