Under the bankruptcy laws, you are required to inform the trustee of your new income. Now, I highly recommend to work with an experienced bankruptcy attorney to ascertain the best possible outcome for you. Technically, if you file the required paperwork concerning your increased salary, your monthly payment will go up (probably drastically) in accordance with the monthly disposable income you have available. However, an attorney might be able to reduce the monthly payment to a reasonable amount by using available and permissible expenses to reduce your monthly disposable income. In short, you need to amend your paperwork so that your monthly payment will not go up or only go up a little.
Answered on Feb 03rd, 2012 at 11:28 AM