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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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Im in Chapter 13, and have been faithfully making payments

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I'm in Chapter 13, and have been faithfully making payments for 2.5 of the five years required. However, my income has been sharply reduced, and I'm having difficulty making the next payment. What are my options?
Hi JACustomer,
At any time during the Chapter 13 plan period the debtor can request that their monthly payment be reduced if the debtor's income is reduced or if the debtor's allowable expenses increase.
This request involves filing a simple motion, and you can get the forms and instructions for this from the clerk at the Bankruptcy court.
Additionally, if the only reason you filed a Chapter 13 was your income was too high for a Chapter 7, and if your income now qualifies you for a Chapter 7, you would also then have the option to request that your case be converted to a Chapter 7, so that your debts can be discharged without having to pay anything more.

I think this is what you wanted to know. If not, please let me know.
Thank you.
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