My Income Has Gone Up in My Oregon Chapter 13 Bankruptcy

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My Income Has Gone Up in My Oregon Chapter 13 Bankruptcy

The confirmation order entered in every Oregon Chapter 13 Bankruptcy requires you to report to the Trustee if your actual or projected gross income increases by ten percent. The income figures included in Schedule I of your Bankruptcy Schedules filed with the Oregon Bankruptcy Court before confirmation serves as the baseline for determining whether there has been a ten percent increase.

If  ten percent increase arises after confirmation, you should contact your attorney to review all of your income and expenses and file amended schedules to reflect the changes. Just because your income has increased by over ten percent doesn’t always mean that there needs to be an accompanying ten percent increase in your plan payment. For most of us, increases in income are almost always accompanied by the necessity to start really paying what we need to be paying for household living expenses or get the car that we have been putting off.

 

2015-05-22T19:04:47+00:00
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