Monthly income drastically reduced

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Monthly income drastically reducedMonthly 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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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:

  • Licensed Insolvency Trustee
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