“Financial pickle”

January 14, 2013

  • 51 Bankruptcy
  • 51XVIII Individual Debt Adjustment
  • 51k3704 Plan
  • 51k3713 k. Time for Completion; Extension or Modification.

51 BankruptcyTo extent that Chapter 13 debtor, as result of not being allowed an additional motor vehicle operating expense deduction for an older, higher mileage vehicle when calculating his or her “projected disposable income,” may be put in “financial pickle” if his or her car broke down, solution is not to allow debtor a deduction not provided by “means test” provision, but to allow debtor to move to modify plan if and when vehicle breaks down.
In re VanDyke, 450 B.R. 836 (Bankr. C.D. Ill. 2011)
Suggested by Barbara Bozonie, West Principal Attorney Editor, Westlaw