Change in Income
The most significant impact of changing jobs while in a Chapter 13 bankruptcy is a change in income. If your income increases or decreases, this can impact the amount you must pay your creditors under the bankruptcy repayment plan. If your income increases, your monthly payment to creditors may also need to increase. On the other hand, if your income decreases, you may no longer be able to afford your monthly payments and may need to seek a modification to your repayment plan.

Chapter 13 bankruptcy is a type of bankruptcy that allows individuals to reorganize their debts and repay them for three to five years. However, circumstances, including employment changes, can impact the repayment plan and the individual’s ability to complete the bankruptcy process successfully. This article explains what happens if you change jobs while in a
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