Anyone had their payment increased?

[tmaire]

Hello,

First time posting here. I have been reading for some time now, and have gotten a lot of information from the boards.

My situation:
I filed on 11/15/2006.
Married filing not jointly
Plan confirmed 04/09/2007
We are in Michigan
Only unsecureds included in my plan (All credit card debt, in my name only)
Plan is for 5 years and is not paying back 100%

I keep reading that a 10% increase in income seems to be the threshold for an increased payment.

My question:
Has anyone had an increase in income while in a Chapter 13, and if so, did your payment increase solely based on the increase in income?

[tofargone]

It will depend on what expenses you incur because of the increase. Our income increased by 30% when my wife went back to work, but we were able to offset it by daycare and driving expense. Of course now since some of the creditors didn't file we are at 100% payback anyway so it doesn't matter anymore.

[ruspider]

Of course now since some of the creditors didn't file we are at 100% payback anyway so it doesn't matter anymore.

Are you saying that because you are in 100% payback that your income can increase over 10% and pymts stay the same? I know you said you can prove offset with additional expenses, but I'm just curious as to a second income( with one spouse filing only) Are you saying @100% payback, your income can increase possibly quite a bit and have little worry of having increased payments?
Just wondering if anyone might know a little about it. thanks

[BKOnce]

Disposable = Income - Expenses. (equation)

Yes, it is "disposable" or what left from each month (what you can pay/squeeze lemon juice more) from your paycheck that they care the most..

[tmaire]

Like to hear from anyone that has had an increase in income.

Hey Everyone,

I know all disposable income is to be paid to the creditors,

and an increase in income can be somewhat offset by an increase in expenses.

I would really like hear from anyone that has had an increase in income
and did your payment increase or not?

Certainly people get raises/bonuses or new jobs over a 5 year period.

[newbie2]

I'm also in Michigan. My husband had a 3% "merit" increase in his salary in December. We faxed over the new pay stubs to the attorney and haven't heard back to see if the trustee wants the increase. As it's been 6+ months we can only assume they don't.

Also, we're at 40% payback to unsecured, not 100%.

[tmaire]

I'm also in Michigan. My husband had a 3% "merit" increase in his salary in December. We faxed over the new pay stubs to the attorney and haven't heard back to see if the trustee wants the increase. As it's been 6+ months we can only assume they don't.

Also, we're at 40% payback to unsecured, not 100%.

Well that sounds like a good thing.
Where in Michigan are you located? I am in the Eastern Division (Detroit Area).
Thanks for responding.
T.