Monthly Payments and Income Tax Question

I have a certain amount that I pay monthly to my trustee and would like to know if my mortgage payment increases (or have other increases), will this affect the amount that I pay to them (decrease it)?

If I get money back from filing my income tax, I understand that my trustee takes that amount and distributes it to whomever, does this money get included into the amount that I am required to pay back and does it decrease my monthly payments?

I hope these questions make sense.

Thanks

Answers: When you go bankrupt in Ontario, you are required to report your income each month to your trustee. If you have what is called surplus income, you are required to make extra payments while bankrupt. These payments are based entirely on your income, not your expenses, so if your mortgage payments increase, your surplus income payments remain the same.

Also, you are correct, your tax refund is an asset of your bankruptcy estate; it is distributed to your creditors, but it does not reduce your monthly payments, because again your monthly payments are based on your monthly family income.

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