We filed a Chapter 13 almost 4 years ago. We have, I believe, 13 more payments on it. However, our bills have increased a lot over the years; the escrow on our house payment has gone up about $300 per month alone. We are having a hard time keeping up the trustee payments. I am not sure if there is anything that I can do other than try to switch to a Chapter 7 but we would lose our cars; the cars are older now but paid for.
-- Anonymous
A.
If the payments in your case were determined based on your income when you filed, you may be able to modify your plan based on changed circumstances. If the plan was based on the liquidation value of your assets you may be stuck with the present plan.
Talk with your lawyer about your increased expenses and their impact on your plan payments.
