Social Security? The additional money could become more difficult for us to pay. The reason for the requested increase has something to do with non-exempt property whatever that means. I believe it has something to do with the value of the house but I am not sure.
You must not have an attorney and if not you only need to do one thing: EMPLOY ONE. If you have one, discuss with them.
It would appear you imply that your case involves a "liquidation test" which your attorney will need to review with you.
Furthermore, there will be a deadline to respond to a motion so don't wait. Be prepared to pay an attorney as you are already in a case or discuss with yours NOW. No other attorney can advise without knowing all the facts and as such they must go through ALL your schedules including assets. Good luck.
Of course the bankruptcy judge can deny confirmation if the proposed payments are inadequate to satisfy the debtor's legal obligations in Chapter 13. Social Security beneficiaries enjoy no particular accommodations in Chapter 13. One such obligation is to include funds equal to 100% of non-exempt equity. This is not a difficult concept. Whatever a debtor owns that a creditor can take to satisfy a judgment is "non-exempt." In Chapter 13 a debtor is allowed to keep such properties if the creditors receive as much in payments as they would have received by forcing liquidation of the property. It is possible, of course, that you failed to properly claim all exemptions available to you, and if it is your home that has non-exempt equity, Chapter 1`3 may not be your best option. Continuing to proceed without the advice of local experienced bankruptcy counsel may have catastrophic consequences. This appears to be a follow up post to a recent question about a trustee's motion to dismiss. Here on Avvo the virtual volunteer attorneys, as knowledgeable and generous as they are, cannot provide the assistance desperately needed here. It will take a flesh and blood attorney to review the petition and pleadings in order to advise specifically as to your strategy. Be prepared to pay a reasonable fee for these valuable services.
Best wishes for an outcome you can accept, and please remember to designate a best answer.
This answer is offered as a public service for general information only and may not be relied upon as legal advice.
The income and expenses of a chapter 13 debtor is only one factor in determining the monthly payment. What collateral wants to retain on secured debts owed by the debtor and the value of a debtor's nonexempt assets are two additional factors that must be considered.
Some people simply do not have enough income to confirm a plan. This happens when debtors want to retain more property than they can afford to pay for over a 5 year chapter 13 plan.
I agree with Mr. Granvold. If you filed pro se, it is time to lawyer up right now. The liquidation test he mentioned does not mean you have to pay the full amount of the equity in the nonexempt property. A chapter 7 trustee's fees, the amount of attorney's fees and accountant's fees that he/she will incur and the amount of taxes the chapter 7 trustee must pay on any property that he/she sells will reduce the amount that the liquidation test would require you to pay.
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