QUESTION
Do I have to report to the court this additional income?
Asked on Aug 15th, 2016 on Bankruptcy - Ohio
More details to this question:
I have been in a Chapter 13 for almost one year. My house is paid for, so we figured half of expenses including property taxes per month to be $500.
4 ANSWERS
So, let me get this straight. You want to know if you have to report additional income to the chapter bankruptcy trustee? Did you read the portion of your Plan that requires you to do this? Of course you report whatever additional income you have to the trustee, unless you want to get kicked out of the program when the trustee does find out.
Answered on Sep 09th, 2016 at 11:26 AM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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Sorry, but you did not provide enough information for anyone to advise you. Try rephrasing your question, and set out what exactly is the source of the extra money that you have, and also what you put down on your schedules J and I(expenses and income).
Answered on Sep 09th, 2016 at 5:38 AM
The Oregon trustee allows a maximum 10 percent variance. Anything more must be reported.
Answered on Sep 09th, 2016 at 5:38 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Why did you figure 1/2 the expenses?
Answered on Sep 08th, 2016 at 6:08 PM