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If i lose part of my income while in chapter 13 will my payments be lowered?
Wiki User
∙ 13y ago
Well no they may stay the same
Wiki User
∙ 13y ago
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If you get a raise or another part time job while paying off a chapter 13 can they increase your payments each month?
== == YES, of course they can, by applying to the court for a "change of income " ruling, and a new judge's order to increase your payments per month, based on your new level of income. They will use the payroll records at the job to argue for an increase in your payments.
What measures did Woodrow Wilson passe while in office?
Established a federal income tax lowered tariffs
Can you finance a car while on section 8?
Sure, but your car payments are not going to be a factor towards your income or its deductions.
Can your Chapter 11 be dismissed due to plan payments?
Chapter 11 is a corporate business bankruptcy where a reorganization plan is made while operating under protection. It is not a Chapter 13 with a specific payment plan.
What is the difference between a cash budget and an income statement?
Income Statement is a financial statement which shows all the income and expenses of company, while cash statement shows the receipts and payments of company. In cash based accounting system cash statement is also work as a income statement as everything is dealt on cash bases but in accrual accounting tracking of receipts and payments and income and expense is a separate tasks.
Can you receive consulting salary in New York while on unemployment?
The unemployment board may adjust one or two of your payments to reflect the income. You must report the income, even it was only one job.
While in Chapter 13 will they take a winter seasonal job layoff into consideration regarding your payments?
Yes - you can request a variable repayment plan with higher payments during the months that you are employed. Ask your lawyer or trustee for more info!
IF you have two car payments in chapter 13 Do you have to give up one car?
No. Chapter 13 offers individuals a number of advantages over liquidation under chapter 7. Perhaps most significantly, chapter 13 offers individuals an opportunity to save their homes from foreclosure. By filing under this chapter, individuals can stop foreclosure proceedings and may cure delinquent mortgage payments over time. Nevertheless, they must still make all mortgage payments that come due during the chapter 13 plan on time. Another advantage of chapter 13 is that it allows individuals to reschedule secured debts like cars (other than a mortgage for their primary residence) and extend them over the life of the chapter 13 plan. Doing this may lower the payments. Chapter 13 also has a special provision that protects third parties who are liable with the debtor on "consumer debts." This provision may protect co-signers. Finally, chapter 13 acts like a consolidation loan under which the individual makes the plan payments to a chapter 13 trustee who then distributes payments to creditors. Individuals will have no direct contact with creditors while under chapter 13 protection.
How do you pay for your Car on chapter 13 Does the monthly payment stay the same?
Sometimes. You have to pay your debts, you are just given time to do so where they cannot seize the asset. The payments themselves may be budgeted differently. Chapter 13 offers individuals a number of advantages over liquidation under chapter 7. Perhaps most significantly, chapter 13 offers individuals an opportunity to save their homes from foreclosure. By filing under this chapter, individuals can stop foreclosure proceedings and may cure delinquent mortgage payments over time. Nevertheless, they must still make all mortgage payments that come due during the chapter 13 plan on time. Another advantage of chapter 13 is that it allows individuals to reschedule secured debts like cars (other than a mortgage for their primary residence) and extend them over the life of the chapter 13 plan. Doing this may lower the payments. Chapter 13 also has a special provision that protects third parties who are liable with the debtor on "consumer debts." This provision may protect co-signers. Finally, chapter 13 acts like a consolidation loan under which the individual makes the plan payments to a chapter 13 trustee who then distributes payments to creditors. Individuals will have no direct contact with creditors while under chapter 13 protection.
Can you refinance in chapter 13?
Yes. If you have had 12 months of on time payments to the truste and your mortgage has been paid on time,While participating in a Chapter 13 bankruptcy, no major financial transactions are allowed w/o the permisson of the bankruptcy trustee.
Is your monthly car payment reduced in Chapter 13?
Maybe..but then it goes on for longer. Chapter 13 offers individuals a number of advantages over liquidation under chapter 7. Perhaps most significantly, chapter 13 offers individuals an opportunity to save their homes from foreclosure. By filing under this chapter, individuals can stop foreclosure proceedings and may cure delinquent mortgage payments over time. Nevertheless, they must still make all mortgage payments that come due during the chapter 13 plan on time. Another advantage of chapter 13 is that it allows individuals to reschedule secured debts like cars (other than a mortgage for their primary residence) and extend them over the life of the chapter 13 plan. Doing this may lower the payments. Chapter 13 also has a special provision that protects third parties who are liable with the debtor on "consumer debts." This provision may protect co-signers. Finally, chapter 13 acts like a consolidation loan under which the individual makes the plan payments to a chapter 13 trustee who then distributes payments to creditors. Individuals will have no direct contact with creditors while under chapter 13 protection.
You have filed bankruptcy and had back taxes put into your chapter 13 which you filed last year your question is now that the new year has come you have filed your taxes again and will be receiving a?
If you are asking whether you will receive an income tax refund while you still owe taxes, the answer is no. The IRS will require payments and keep your refunds until the bill is paid in full.
