Posted on: 04th Sep, 2012 12:40 am
my mother filed chapter 13 bankruptcy earlier this year. she is now on her payment plan. she was considering renting out her house. she now wants to move into a small apartment which would save her around $400 a month. would she be able to put away the extra $400 a month as her savings or would she have to notify the trustee and have her repayment plan adjusted. any help is greatly appreciated.
Hi Ori,
As far as I know, your mother will be able to save that excess $400 in her savings account. But to be on the safer side, it will be better if she could contact the bankruptcy trustee and take his/her opinion in this regard.
Thanks,
Jerry
As far as I know, your mother will be able to save that excess $400 in her savings account. But to be on the safer side, it will be better if she could contact the bankruptcy trustee and take his/her opinion in this regard.
Thanks,
Jerry
Welcome Ori,
Jerry is absolutely right in saying so. As your mother is in bankruptcy, she should take steps carefully and it will always be a better option to take the suggestion of the bankruptcy attorney in this regard.
Jerry is absolutely right in saying so. As your mother is in bankruptcy, she should take steps carefully and it will always be a better option to take the suggestion of the bankruptcy attorney in this regard.
Your mother must consult with consultant and after that should take any decision. These types of problem come sometimes so it will good to ask a finance adviser.