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  • Spectacular!

    I liked your fast, friendly service. You were all knowledgeable in the area of bankruptcy. Your treatment of me as a client was spectacular! You were great at promptly responding to my questions and concerns. I loved that you provided courteous and quick responses to all my questions.
    --Donna
  • Highly Recommended!

    I have worked with Seth and he is the utmost professional in how he works with his clients. If you need an attorney you can trust I would highly recommend the Law Office of Seth Hanson.
    --David
  • Very Professional.

    Everyone was very professional and efficient. Seth, and everyone that I had contact with were very knowledgeable. I was very pleased with how we were treated by his staff. My questions were always answered promptly. I was very pleased with the service I received and would not hesitate to refer someone to your firm.
    --Anonymous
  • Non-judgmental.

    You were very open and answered all of my questions. You never made me feel like I was asking a dumb question. I was comfortable with your knowledge of the law. It was hard for me to make this decision to move forward in my life. Everyone was friendly to me and respectful. Non-judgmental. Every question I asked was answered promptly and appropriately. I would recommend you.
    --Anonymous
  • More Than Expected!

    I found the firm's representation to be more than what I expected. I was always kept in the loop, all my questions were answered (whether or not I asked more than once the same question), and I felt completely supported by the firm staff when going through this (at times) scary ordeal. Thank you again.
    --Joanna
  • Very Impressed!

    I liked that you had very friendly, caring staff. You were all very knowledgeable. Your treatment towards me was excellent and you quickly responded to all my concerns. If a friend asked of your overall impression, I would say that we were very impressed and we would recommend you to them.
    --Danielle

Raises And Bonuses In Chapter 13

Chapter 13 bankruptcy is a type of bankruptcy designed for individuals with a regular income who are struggling to pay off their debts. In Chapter 13, the debtor creates a repayment plan that allows them to repay their debts over a period of three to five years. While this type of bankruptcy can be an effective way to manage debt, it will also raise questions about how raises and bonuses will affect the repayment plan.

In Chapter 13, the repayment plan is based on the debtor’s disposable income. Disposable income is the income left over after the debtor has paid their necessary expenses, such as housing, utilities, and food. The debtor’s disposable income is used to make payments to their creditors. If the debtor receives a raise or bonus during the repayment period, their disposable income may increase, which could affect their repayment plan.

If a debtor receives a raise or bonus during the repayment period, they should contact their bankruptcy attorney, who will help determine whether the raise or bonus must be reported to the bankruptcy trustee. The trustee will then determine if the increase in income will affect the repayment plan. If the increase in income is significant enough, the trustee may require the debtor to increase their monthly payments to creditors. The trustee may also require the debtor to pay more into the bankruptcy estate.

It is also worth noting that not all raises and bonuses will have an impact on the repayment plan. For example, if the debtor receives a small raise or bonus that does not significantly increase their disposable income, the trustee may determine that it does not require a change to the repayment plan.

In conclusion, raises and bonuses can have an impact on a Chapter 13 bankruptcy repayment plan. Debtors must report any increase in income to the bankruptcy trustee, who will determine if it affects the repayment plan. While it may mean an increase in monthly payments, it could also mean the debtor is able to pay off their debts more quickly. It is important for debtors to work closely with their bankruptcy attorney and trustee to ensure they understand how raises and bonuses will affect their repayment plan.

If you have questions, feel free to reach out to your Auburn bankruptcy attorney at 530-797-4402

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