My question involves bankruptcy in the state of: Alabama
wouldbe interested to know if my Ch 13 payment can be reduced now that my child support payments have stopped.My annual salary is $60,000.child support payments were $12,000/yr.
My question involves bankruptcy in the state of: Alabama
wouldbe interested to know if my Ch 13 payment can be reduced now that my child support payments have stopped.My annual salary is $60,000.child support payments were $12,000/yr.
The child support was not included in your disposable income for the determination of your repayment plan so its cessation does not affect the plan.
I will have to respectfully disagree with Mr. K. While the child support was not included for purposes of Form 22 and 1325(a)(2), as a practical matter it probably was included in her Schedule I and does support the OP's ability to make her Plan payments. The problem she faces is whether or not, without the inclusion of the support, she can afford to complete her Plan as proposed. Can she reduce her Plan yield? Maybe, maybe not. What is she paying for - mortgage arrears, a car, taxes, etc? If nothing was going to unsecured creditors, unless she gives up something, the Plan yield cannot be reduced and she will have to find replacement income. She needs to discuss this with her attorney.
Des.