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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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I filed chapter 13 bankruptcy in Texas nearly three years ago

Resolved Question:

I filed chapter 13 bankruptcy in Texas nearly three years ago and was given a payment plan for 60 months. I now live in Pennsylvania. Is there any way for me to decrease the time of my payment plan (36 months) or my payment amount? If so, in what state?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 4 years ago.

cfortunato :

Hi JACustomer,

cfortunato :

Has your income decreased?

cfortunato :

If so, has it decreased to below the state median for your family size?

Customer:

It is exactly the same but my living expenses have gone up. Texas did not allow for rent expense, only mortgages.

cfortunato :

The Chapter 13 plan period depends on the debtor's income only - not on his expenses.

cfortunato :

I will check the state median for Pennsylvania.

cfortunato :

What is your household size?

Customer:

1 person, $85k. I'm sure I'm above median.

Customer:

so no way to decrease from 60 months?

cfortunato :

Yes - you are.

cfortunato :

So, it is not possible to have the period reduced from 60 months.

Expert:  cfortunato replied 4 years ago.

However, if your expenses have significantly increased, you can apply for a reduction in your plan payment amount - this is called a "modification".

cfortunato and other Bankruptcy Law Specialists are ready to help you

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