Hi - my name is XXXXX XXXXX X'm a Bankruptcy litigation attorney. Thanks for your question.
A "Pot" plan occurs where all payments come from a single source, such as the sale of an asset. Chapter 13 bankruptcies generally require ongoing income in order to confirm the plan. Thus, bankruptcy courts should not confirm a "POT" plan under Chapter 13.
IF you can't do anything about the amount of the claims made, the most likely way to resolve this is to file a motion to modify the chapter 13 plan and get the payments extended past the 5 year mark. As you know, your bankruptcy can only last 5 years, BUT you can agree with creditors and the trustee to make payments post-bankruptcy under an agreed amount reflected by the plan.
Modifying your plan would allow you to extend the payments and keep the monthly obligation from doubling.
Hi - thanks for allowing me to assist you. If the need arises, I'll be glad to answer any additional questions you have regarding this or any other issue. Just let me know.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).