Bonus Pay after filing Chapter 7

[AngelinaCat]

I also hate to read this news. Please keep us posted.

[KAM465]

Thanks Des,

Gave it a big league try but in the end swung and missed. I have a leased vehicle that will end in 13 months so that will be the biggest hurdle in a 5 year plan as I will need transportation. I guess might have been better to plan the 13 from the get go and would be 7 months closer to the 60 months, but I was willing to give it a try.

We are hopefully looking at a extremely small payment based on actual expenses. I am current on mortgage and car lease so no priority debt to include in plan so don't think I need to include any car payment (maybe except to increase payment to make UST some money).

Will keep everyone posted once attorney files motion to convert and the plan.

KAM

[KAM465]

Just an update for those of you that have been following my thread.

Had hearing in May and the Judge more or less said Convert or I will dismiss, I give you 14 days to make the choice. So in May I converted to Chanpter 13 with a proposed 5% payback to unsecured (Approx $90,000 unsecured) only secured claims will be trustee and attorney's fees. Proposed plan is $135/month for 60 months.

Had 341 hearing August 9th pretty much event free, trustee continued hearing to allow my attorney to file Chapter 13 Means Test, Step-up for when my car lease eends in June 2013 and to agree to give trustee 1/2 of any after tax bonus pay received. Nothing unexpected by my attorney or me. All requested info was filed and 341 was concluded on 9/6.

So now I wait until confirmation hearing on 9/20 to see if they confirm the plan or ask for more.

[despritfreya]

$135/mo for 60 months ='s $8,100.00. Not too bad. Get the Plan Confirmed and do not rock the boat over the 60 months as once Confimred, all should be smooth sailing.

Des.

[KAM465]

Des,

Thanks for the words of encouragement.

I will have to file Motion to Incure Debt when lease is up but attorney said should not be an issue, just keep payment at or below current payment and I should be ok. Said the trustee does not really ask for tax returns so as long as income does not increase more than 10% at one time pay raises should get through. I have a little concern is if I recieve a pay increase before I file motion to incure dept for car next June they will look at income and expenses again and ask for more. Beyond that I guess all is ok.

KAM