QUESTION
Can the trustee count that as new income and can they take my lump sum payment?
Asked on Aug 06th, 2013 on Bankruptcy - Michigan
More details to this question:
My husband and I are 3 years 3 months into chapter 13 payments. I have just been approved for disability and awaiting a lump sum payment over 20,000.00.
5 ANSWERS
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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You need to report this to your attorney and get the information to the trustee.
Answered on Aug 24th, 2013 at 12:26 PM
Deborah F. Bowinski
Your chapter 13 attorney is the correct person to answer your questions about your income and your plan.
Answered on Aug 12th, 2013 at 11:53 PM
General Law Attorney serving Cherry Hill, NJ
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Mark S. Cherry, Attorney at Law, PC
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It should not affect a confirmed plan.
Answered on Aug 12th, 2013 at 11:53 PM
The answer to your question all depends on the provisions in your confirmed Chapter 13 plan. In some circumstances you have to pay some, or all, of that money to the Trustee. But, not always.
Answered on Aug 12th, 2013 at 11:53 PM
Absolutely. I hope you have an attorney to mediate/negotiate on your behalf.? You may need to file amended schedules and possibly a new plan.
Answered on Aug 12th, 2013 at 11:52 PM