Question about a significant income increase

[INA13]

Hi,

I've been in a Ch. 13 BK for a year and a half now. I'm paid on straight commission and my 2010 income was significantly more than my 2009 and 2008 income (which my budget was based off of).

My Year To Date income is about 3 times more than last year. I'm concerned about what will happen come next spring when I have to report my tax return to the Trustee.

Is there a chance that they will require a new budget to be drawn up? And if so, if I have to pay more per month, will that increase the total amount I owe or will it just pay off the plan faster with the higher payments?

Finally, how do they take into consideration budgets for folks like me who are on straight commission? I'm a mortgage lender so with rates being so low I've had a great year. However that could all change next year. I could have a crappy year or be out of business alltogether with how the economy is going. You just never know.

THANKS!

[enginegirl]

It all depends on your trustee and how you plan was/is written... for example.... mine (if it ever gets confirmed) states that I must turn over all bonuses, Pay Raises, commission checks and tax refunds for the duration of plan until I am at 100% pay back.... mine is 60 months and I am not paying back 100% (hell will freeze sooner!).... that said.. if my income drastically reduces then a new amended plan will be file.
my best advise would be to save your extra $$ just in case because you never ever know..... oh and consult your atty too!!