Income dropped since initial ch13 filing

[jetsfan2007]

Hey everyone, Im new and hope someone could shed some insight...


My income is salary + commission but weighs heavily on commission. When I filed in 10/07, they used the prior 6 months, which when my income was on the high end, but started to tail off considerably. My lawyer said he had to do it that way, and stated my payment would be 97% payout to plan. My only 2 bills would be my house payment(950) and my 13 payment(1250). Since October, my income has taken a sharp nosedive, and Ive been just making base pay due to no commission the last 2 months. Ive now fallen a month behind on both my mortgage and ch 13 payment and am facing possibly 2 months.

1. Can I get my plan restructured due to the income changes, and if so would this affect my end date?

2. I had to file bk to prevent foreclosure primarily, if I elected to dismiss my bk and paid the arrears of my bk solely, could I do that and assume handling other creditors?

any input is welcomed.

[woeisme]

Contact your lawyer immediately, and then have the lawyer request a change in your CH 13 payment plan. You need to do this ASAP before it gets dismissed because the bank could forclose on you as soon as your stay gets lifted.

[jetsfan2007]

I will be calling them in the morning. Would the trustee contact me before trying to dismiss the BK?

[woeisme]

Yes, pretty much everything your trustee does is documented, and I'm sure they will send you paperwork first. They want you to be able to complete your plan (their pay is based on a % of your payments) but if you stop making payments and don't contact them through your atorney, then they will dismiss the case. Usually takes more than 1 missed payment, so I think as long as you contact them ASAP, you can still work things out. Good luck!