Can my payment be increased in 100 percent plan

[zguy]

First, I'd like to thank everyone for the valuable information on this forum. I am 6 months into a 100% chapter 13 which is planned at 58 months and my income has recently increased approximately 20%. Given the increase in my income, would the trustee increase my payment given it is a 100% plan?

Thanks in advance for any information.

[andy158]

From what I have read in previous posts you can't pay more than 100% and the trustee will not ask for any more than you are paying now regardless of any income increases. You may finish your plan early if you send more than the required monthly payments though. Perhaps knock it down to a 36 month plan? Run it past your attorney.

I'm no expert here, but having poured over this forum for the last 4.5 years you should be able to find a similar scenario. This place is priceless!

[bminet]

No expert or legal opinion from me either, but I would say as long as your happy with the payment consider it a savings bonus and store that 20% away to use for bumps in the road. The trustee should not even care as long as your making your payments.

[zguy]

Thanks for the information. While I cannot pay more than 100%, I was just worried the trustee would increase the payment and shorten the overall plan. While that would be of some benefit, my current payment allows me the opportunity to save a bit each month for unforeseen expenses which I'm sure will occur.