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Total Monthly Income

My assessed monthly income has decreased by about $500 per month after the first month of bankruptcy. Does my monthly payment decrease as my income fluctuates?

Posted from: British Columbia

One Response to “Total Monthly Income”

A licensed trustee said...

You should be submitting monthly statements of income and expense to your trustee – if you are then they should see the reduction and depending on family size and your total household income you may see a reduction in your monthly payments to the trustee.

If you are not submitting monthly statements to your trustee then I suggest you give them a call (or go and see them ) to discuss how your bankruptcy may be affected by your lower income.