making commissions on top of salary

I have a set salary but i do make commissions which can be okay or something really high. How does that affect my repayment? is it based on salary or salary and commission as that amount is not guaranteed?

Posted from: Ontario

One Response to “making commissions on top of salary”

A licensed trustee said...

If you a filing for bankruptcy then you will be required to report your actual income FROM ALL SOURCES for the first 6 months of the process. Your payments will be based on your average income over that period and if y average exceeds the government threshold for your size of household then your bankruptcy will be extended. Discuss this with your trustee BEFORE you file.

If you are filing a consumer proposal (which is usually a better idea if you have the potential to earn high income) your payments will be based on your historic average income. If you have had high commissions in the past it will drive up your average and therefore y repayment. The question you have to answer is “how certain are you of the commissions?”. I realize they are based on sales, but if your commissions have been the same for the last 3 years then it is a safer bet than if they change every month.