PROPOSALS AND INCOME

August 14th, 2006 by Questions

If I do a proposal, how long do I have to submit changes in income. IE: If I get an increase in income how long down the road do I have to declare that? Do I have to do this for the entire 5 year term?

Questions

One Response to “PROPOSALS AND INCOME”



, Barton Goth, GCO Inc. Bankruptcy Trustees said:

In most situations you will have to submit monthly Income and Expense Statements and the associated proof of income to your trustee for the initial 9 months. However, at any time during the proposal you need not worry about an increase in income, as long as you can justify why the proposal was offered at the level it was and the creditors agreed to this the total amount you pay will not fluctuate with your income.

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