My question involves bankruptcy in the state of: Virginia
Hello,
I'm in the 2nd yr of a 5-yr Chptr 13 plan; all payments have been on-time except when I was laid off from from job in October. I am on unemployment and there is a possibility of changing to Chapter 7 due to insufficient income to make plan payments. I've been presented an option for a pension plan payout from an old job. While this will help me tremendously in getting back on my feet and catching up on plan payments (if not changed to a 7), I wanted to know if the trustee will take the pension payout and put it towards the plan? My main goal is to get back on track (financially...with a job!) and finish out this plan on-time; my attorney advised me awhile back to not be concerned with paying it off early.
So again, my question is can the trustee take the money if I choose a pension plan cash payout or monthly payments. I'd appreciate any answers/advice that you can provide.
Thank you
Hello,
I'm in the 2nd yr of a 5-yr Chptr 13 plan; all payments have been on-time except when I was laid off from from job in October. I am on unemployment and there is a possibility of changing to Chapter 7 due to insufficient income to make plan payments. I've been presented an option for a pension plan payout from an old job. While this will help me tremendously in getting back on my feet and catching up on plan payments (if not changed to a 7), I wanted to know if the trustee will take the pension payout and put it towards the plan? My main goal is to get back on track (financially...with a job!) and finish out this plan on-time; my attorney advised me awhile back to not be concerned with paying it off early.
So again, my question is can the trustee take the money if I choose a pension plan cash payout or monthly payments. I'd appreciate any answers/advice that you can provide.
Thank you
Bankruptcy Issues: Chapter 13 and Pension Plan Payout - Unemployed
0 commentaires:
Enregistrer un commentaire