QUESTION
Do I have to wait until totally dismissed or can I get married 3 or 4 months before dismissed and not have to change payment?
Asked on Sep 08th, 2016 on Bankruptcy - Nevada
More details to this question:
I have less than a year left on my Chapter 13 and just recently engaged. When I called my attorney about getting married, was told my plan would have to be redone with his income and expenses counted in the plan.
4 ANSWERS
You would have to redo the plan.
Answered on Oct 03rd, 2016 at 6:25 PM
2 Awards
Your attorney is correct. If by marrying your disposable income changes then your plan will have to be revised. An alternative to this would be to do a prenuptial agreement keeping your new spouses income separate from yours.
Answered on Oct 03rd, 2016 at 6:25 PM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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First, run the numbers. See what the joint income and expenses are. Maybe you have to modify the plan and maybe not. If there is significant increase in disposable income, you might want to consider waiting until there are only a couple months left in the plan.
Answered on Oct 03rd, 2016 at 6:25 PM
You certainly can get married if you wish but you need to understand that if your spouse is employed, his income now must be part of your budget. So if you do not mind paying more into your plan because more money is now available to pay creditors, by all means proceed with your plans. Also, understand that updating your budget will involve additional work for your attorney who will expect to be paid for performing this work. If your plan does need to be changed as a result, this will also have a significant cost.
Answered on Oct 03rd, 2016 at 6:25 PM