Comments on: Surplus Income vs Proposal http://www.bankruptcy-canada.ca/alternatives-to-bankruptcy/2010/01/surplus-income-vs-proposal.html Personal Bankruptcy Canada Blog Fri, 10 Feb 2012 15:23:44 +0000 hourly 1 By: Ted Michalos, CA trustee http://www.bankruptcy-canada.ca/alternatives-to-bankruptcy/2010/01/surplus-income-vs-proposal.html#comment-113101 Ted Michalos, CA trustee Fri, 15 Jan 2010 14:55:52 +0000 http://www.bankruptcy-canada.ca/alternatives-to-bankruptcy/2010/01/surplus-income-vs-proposal.html#comment-113101 The most likely approach will be to use your prior year's income to generate an average monthly income. The real issue for you isn't what income is used, but if your income is irregular (high one month and low the next) you may have a very difficult time making regular monthly payments towards a proposal. Your situation is not as unusual as you might think - when you contact a trustee to assist you simply ask them how much experience they have with proposals for people with irregular income. The most likely approach will be to use your prior year’s income to generate an average monthly income. The real issue for you isn’t what income is used, but if your income is irregular (high one month and low the next) you may have a very difficult time making regular monthly payments towards a proposal.

Your situation is not as unusual as you might think – when you contact a trustee to assist you simply ask them how much experience they have with proposals for people with irregular income.

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