Monthly income drastically reduced

379 viewsDecember 3, 2017Bankruptcy

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curios (anonymous) November 24, 2017 0 Comments

Monthly income drastically reduced

Unfortunately my husband just got laid off with no expected return date. This means our monthly income will be reduced to approximately $1900 from $3000. He still has 11 months to go on a 21 month bankruptcy. I have been discharged. He was making surplus income payments of $397 a month. Can this amount be reduced because of his lower income?

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Earl S Changed status to publish December 12, 2017

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Earl S 960 Posted December 3, 2017 0 Comments

Yes, the payments will be reduced in your bankruptcy if your income has been reduced.

Tell your husband to contact the trustee to get a revised payment amount.

You can calculate the revised payment by using our Bankruptcy Calculator:

https://bankruptcycanada.com/BankruptcyTermPredictor.php

Licensed Insolvency Trustee

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Earl S Answered question December 3, 2017

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