Personal Bankruptcy Canada Blog » Cost Of Bankruptcy

Public trustee fees

Questions — Sat, 04 Feb 2012 13:30:58 +0000

I had my first free consultation with a public trustee. We came to the conclusion that I have to apply for division I proposal. I was asked to gather some documents and a draft of $3000 to the public trustee.

Is that how it work?

Posted from: Manitoba

scared

Questions — Tue, 31 Jan 2012 06:52:19 +0000

what are the cost or bankruptcy dose it depend on what you owe and how much you make

Posted from: Ontario

9 mths vs 21 mths

Questions — Thu, 17 Nov 2011 18:20:59 +0000

Have I misunderstood something? If my surplus income is $200 or less, I do not have to pay anything to the estate and my bankruptcy is over in 9 months. But if my surplus income is more than $200 then I must pay 50% of the surplus income per month to the estate for 21 months. With that logic, why wouldn’t I want to get a low paying job that puts me under the $200 surplus income threshold and be done with the whole bankruptcy in 9 months. Yes, it would be tight for 9 months, but then after that I could get a better paying job. Is this logic valid?

Posted from: Alberta

employment while bankrupt

Questions — Wed, 16 Nov 2011 01:51:55 +0000

am I required to be working in order to file for bankruptcy?

Posted from: Alberta

Bankruptcy Costs

Questions — Wed, 07 Sep 2011 22:15:01 +0000

I signed a form with my trustee that outlined my payments as $900.00 plus $150.00 for court costs which I paid in full. Now they tell me that the government rules say I must pay almost $1800.00. I went bankrupt in September of 2008. I finally have a court date on Sept 14 th just 5 days before 3 years… Please tell me if this is allowed that they can change the amount after I have signed it ??

Posted from: Ontario

Ms Confused

Questions — Fri, 15 Jul 2011 17:45:36 +0000

My common-law spouse brings in $1400/month and I bring in $1900/month. I need to claim bankruptcy but my cl spouse doesn’t want to include his income. He doesn’t want to claim bankruptcy. We have an arrangement whereby he pays the rent and I pay the rest, including my personal debts. The total I owe is around $51000. Do I have to include his income and if so, how will that affect my bankruptcy?

Posted from: British Columbia

Surplus income

Questions — Sat, 09 Apr 2011 22:04:32 +0000

I have been paying surplus income for 15 months but now am told I owe almost $3000. more. I cant’ pay it before October discharge so it will have to go to court(another $600.). I dont understand what this entails and my trustee is ignoring my emails. I am sure this was never explained to me at the onset. Please advise what this will mean?

Posted from: British Columbia

Finished Bankrupcy

Questions — Sat, 15 Jan 2011 01:55:21 +0000

Does anyone know what the maximum amount of money a trustee can take from someone who goes bankrupt?

Posted from: British Columbia

Trustee consultation fee

Questions — Sat, 18 Dec 2010 19:11:25 +0000

I am meeting with a trustee in a few weeks. He said that he will charge approximately $500-$1200 for the meeting. Is this standard? From what I\’ve read, consultations are free? I do have a complex case so I wonder if the fee reflects that?

Posted from: British Columbia

cost of bankruptcy

Questions — Thu, 09 Dec 2010 02:28:16 +0000

how much is the minimun to pay for bankruptcy i been lay off for 1 yr i been living of my credit cards and got no assets,rrsp\’s or savings prety soon i\’ll be living on the street. any help please

Posted from: British Columbia

Credit Card Debt

Questions — Tue, 26 Oct 2010 21:17:38 +0000

I owe over 150,000 in credit card debt and cannot continue to make payments.

My wife has considerable assets.

Can I make a proposal to to the credit cards or will they go after my wife`s assets?

Is it better to take a mortgage on our home and pay off the credit card debt that way?

Posted from: Ontario

Cost of a trustee

Questions — Sun, 05 Sep 2010 04:47:50 +0000

Can a trustee charge more for a personal bankruptcy procedure than the set rate? For example can they charge $2500 dollars, because they said your file is larger than normal?

Posted from: British Columbia

cost of counseling sessions required in bankruptcy

Questions — Wed, 14 Jul 2010 02:31:59 +0000

hello do you have to pay for the counseling sessions or is this included in the amount you pay the trustee a month

Posted from: Nova Scotia

SM

Questions — Wed, 31 Mar 2010 16:57:00 +0000

I`m currently making monthly payments to my trustees office for the cost of my bankruptcy. If I were to pay the balance owing in full (a family member has now offered to pay it for me), am I still required to submit monthly income/expense statements, and my surplus earnings (if any)?
Thank You.

Posted from: Ontario

Cannot afford to go bankrupt

Questions — Tue, 02 Mar 2010 15:09:19 +0000

A friend has no money, no job and has lost everything. He is on social assistance and disability. He should go bankrupt but has no money or assests that can be used to pay a trustee. Is there any assistance available in this typre of situation.

Posted from: British Columbia

below Surplus Income

Questions — Mon, 22 Feb 2010 02:46:14 +0000

If earnings are below the amounts allowed and you are below the Surplus Income. How do we pay the Trustee?

Posted from: Ontario

Surplus Income Frustration

Questions — Fri, 22 Jan 2010 22:22:43 +0000

Is there any indication that the new September 18 rules on Surplus income might be changed in light of the economic fiasco?

Here`s why I ask. My husband lost his job and the savings were depleted on a reno project that we were doing for a rental property. Following this we were unable to make payments and have filed for bankruptcy. We surrendered both houses (ours and the rental-mid reno) both vehicles, recreation trailer and quads. Yes, we were carrying too much debt, but bringing home equal incomes made it doable.

Now we`re in bankruptcy and my husband is out of work. As such, he will be in bankruptcy for only 9 months. I on the other hand am now supporting both of us and get the added bonus of having to be in bankruptcy for 21 months. And I`m not only paying my monthly surplus income calculated payment, but his too! How unfair is this!

Posted from: Alberta

total amount each month that you can declare for bankruptcy

Questions — Mon, 16 Nov 2009 14:02:05 +0000

what is the total amount each month that you can declare for bankruptcy including house and car payments etc

Posted from: Alberta

Living in seperate households after filing bankruptcy

Questions — Wed, 04 Nov 2009 19:20:11 +0000

My current spouse and I own some assets and have all unsecured debts together. we will be seperating soon, how will over bankruptcy costs work. There may be a suplus of income if we considered combined incomes, but definitely not when we are living apart. …so how will this reflect on our discharge time and costs

Posted from: Nova Scotia

Paying mother rent

Questions — Sun, 01 Nov 2009 00:50:02 +0000

Hello. I live in the same house with my mother and I pay her rent $500. I buy my own groceries. Would her income have to be included in my surplus income calculation? Thank you.

Posted from: Ontario

retired and in debt

Questions — Fri, 30 Oct 2009 20:53:10 +0000

I am retired (my wife is unemployed) and my vehicle was repossed. In addition to a car loan, I have credit card debt, personal loans, and payday loans. In total I owe approx $50,000. My set net income is $1400, which just covers my basic living expenses. I have no assets to declare. How much will filing for backruptcy cost? At this time I feel this is my only option.

Posted from: Manitoba

what should I do?

Questions — Mon, 14 Sep 2009 01:37:26 +0000

I have incorporated a business for a year now, thinking that it would grow. I spent a lot of money on tools and supplies. Now I don`t have any left to pay my taxes. It`s about four thousand dollars ($4000.00). If I file for bankruptcy will I lose my credit and such?

Posted from: Alberta

On Social Assistance

Questions — Fri, 04 Sep 2009 05:37:21 +0000

I am on social assistance and wonder how much I will be charged for filing for bankruptcy.

Posted from: Ontario

Living With Parents/Income Limit

Questions — Thu, 03 Sep 2009 17:35:20 +0000

I have a question. I am currently living with my mom and I pay half of everything. Such as the rent, food, etc. My mom has a very good government pension, and now works at an insurance company. So she is very well off compared to me.

I earn less than $1797 net pay a month which I believe is the limit. I have absolutely no assets. Is my limit still $1797 in this situation?

My second question is if I declare bankruptcy, because I am under the monthly limit, does that mean if I have $500, $600 left over, I am allowed to keep it? After paying the trustee fee of course.

I would really appreciate an answer. I searched all day for this with no luck.

Thanks

Posted from: Ontario

judgement against me

Questions — Thu, 27 Aug 2009 00:34:58 +0000

hello,i was hit with a letter last week from my work saying i owe 10000 for some furniture i recieved(it ws only 3000)any ways i didnt get a notice to go to court or anything,last night at 7 pm a lady shows up at my door and says `you`ve been served`now this letter states there will be a hearing to determine what they can take to satisfy there judgement,and it also states that i can be jailed for contemped of court if i dont go.my question is can i go bankrupt before this date(oct 19 2009)and if so how and who do i speak to?thanks in advance

Posted from: Saskatchewan

taxes

Questions — Thu, 16 Jul 2009 15:06:02 +0000

My common law husband wants to file for bankruptcy. I dont want him too. He owes $16,000 in taxes and $7,000 in GST. He hasn`t saved up that kind of $$$. He has about $3,000 in savings. He wants to declare bankruptcy – but I want us to find a way out. Is there anyway to do this without filing bakruptcy?

Posted from: British Columbia

seasonal employment

Questions — Fri, 26 Jun 2009 05:48:38 +0000

I am in bankruptcy ast of fall 2008 . I make very little income during winter months so I have paid little or no surplus payments. During the summer months , my income is higher and save it to live throughout the lean months . However , if I make surplus income payments based on my high income months , I would be left with little or no savings for these lean months . Am I overlooking an option here. ? Thank You

Posted from: British Columbia

Bankruptcy

Questions — Thu, 04 Jun 2009 03:37:16 +0000

If I receive $12000 in severance pay in July and file for bankruptcy in Sept will it be considered surplus income?, and will I be required to pay some of it into the bankruptcy?

Posted from: Nova Scotia

Surplus income

Questions — Wed, 03 Jun 2009 00:29:57 +0000

If a single person is only allowed $1800 a month and the rent/utilities etc comes to more than that amount, what happens?

Posted from: British Columbia

why so expensive?

Questions — Mon, 04 May 2009 19:47:14 +0000

How much is a bankruptcy really supposed to cost? Say a person has a takehome income of maybe 1500-1600 dollars, take off rent, about a thousand, utilities, another 150-200 a month, car insurance, maybe 120 a month. Then of course if you have a child , you need to buy food , right? ok, forget about clothes , forget about haircuts , forget about having a bit of fun. ok, after that , i might have enough for a bit of food. please tell me how a trustee can still tell you he/she wants 150 a month for a bankruptcy fee? is that supposed to be some form of punishment? sorry, please just tell me that amount to file couldnt possibly be true.

Posted from: British Columbia

Joint Bankruptcy with surplus income

Questions — Fri, 24 Apr 2009 20:36:29 +0000

If my husband and I declare joint bankruptcy and we have two children what is considered… no examples included both joint and with children our joint monthly income is 3400 Approximately we both have irregular shifts and can make more or less in a month

Posted from: British Columbia

INCOME LIMIT

Questions — Sat, 04 Apr 2009 00:43:14 +0000

I am a single person and my monthly income is under the limit set by the Office of the Superintendent of Bankruptcy.

If I am able to save $ 100.00 a month can my trustee request that I pay the $ 100.00 into my estate or by law am I entitled to keep the savings?

Posted from: British Columbia

extended discharge

Questions — Tue, 24 Mar 2009 00:18:26 +0000

I am considering using a trustee who has informed me even if I meet all the requirments I may not be discharged for an additional 12 months. Why would this be as I am a first time bankrupt? Should I get another consultation?

Posted from: British Columbia

rules surrounding surplus

Questions — Fri, 20 Mar 2009 03:57:59 +0000

My wife and I are living under the same roof the house is under both names.we have 2 kids she wants nothing to do with me till i get my spending under control and get help, we have refin 2 times to get me out of my debt but this time i am on my own i have 45000 c/d debt we are more like roomates i pay 500 a week for me to live here and for the kids i take home 2800.Can i just use my own income for the surplus with out her income . we just live together for the kids and so the have a backyard to play in. if i do this i know she will not want anyting to do with it.if i have to use her income she takes home 2800 she will not give me money towards the surplus so i will not be able to paid it cause it will be to much

Posted from: Ontario

single mom three kids no income

Questions — Wed, 18 Mar 2009 12:12:05 +0000

I have separated from my husband have no job our house is up for sale and my husband wants to file for bankrupcy,I feel the need to do the same. We do not have a separation agreement as yet and with three children in my care I need to know what is the best course of action.

Posted from: Ontario

bankruptcy

Questions — Mon, 09 Mar 2009 20:52:04 +0000

can you declare bankruptcy if you have a well paying job?

Posted from: Ontario

Fees for filing

Questions — Thu, 15 Jan 2009 17:09:24 +0000

A person needs desparately to file for bankruptcy. However this person is in such poor health, is unable to work, and lives on $500 and something per month and is unable to pay for her filing.

Please advise.

Posted from: Ontario

self employed

Questions — Wed, 14 Jan 2009 06:32:16 +0000

Prior to calculation of surplus income calculation, I was told by one trustee that not all expenses that are accepted by the cra are accepted by the BIA. Is this true and if so, where is this detailed information found?

Posted from: Ontario

adult children

Questions — Wed, 14 Jan 2009 06:27:34 +0000

If our adult children who are students with pt income refuse to participate in the bankruptcy surplus determination, will this be held against me and my wife in our joint bankruptcy?

Posted from: Ontario

Are exspenses reimbursed from your employer considered surplus income

Questions — Mon, 05 Jan 2009 21:03:10 +0000

Are exspenses i.e. for travel and food which are reimbursed from your employer considered surplus income?

Posted from: Ontario

CAN I TRAVEL?

Questions — Tue, 11 Nov 2008 14:57:25 +0000

My question is if I can travel after bankruptcy?

Posted from: Ontario

Will my parents’ income be included in my surplus

Questions — Fri, 17 Oct 2008 18:18:33 +0000

I currently live with my parents b/c i can`t afford to go on my own. When I file for bankruptcy do their income have anything to do with me? Will their income be included in my surplus income because I reside with them?

Posted from: Newfoundland and Labrador

Surplus income

Questions — Tue, 07 Oct 2008 00:19:57 +0000

If we have 4 people living in our home our threshold is $3303. If we don`t currently pay mortgage/rent will that fact change how our surplus income is calculated or is it based completely on the government threshold for a family of 4. I`m thinking that since we have more disposable income that maybe we would have to pay more…hope I`ve made sense.

Posted from: British Columbia

medical expenses

Questions — Sun, 21 Sep 2008 18:06:21 +0000

According to the rules of surplus, medical expenses are deducted from income and not the end result. Therefore a disabled person incurring $200 a month in medical expenses only pays $100 less in his monthly surplus payment than his healthy friend with the exact same income amount.
Do you believe this to be fair?

Posted from: Ontario

tax estimates

Questions — Sat, 20 Sep 2008 02:35:18 +0000

Having only disability pension income, I will be required to make a monthly tax payment during my bankruptcy. My question is , `who` will hold onto this tax money? Also, I am afraid of the trustee estimating too high as this will result in a tax rebate which HE is entitled to keep.

Posted from: Ontario

trustee fees for filing

Questions — Thu, 21 Aug 2008 21:56:40 +0000

My trustee says i will have to pay $157 per month for surplus income, $23 for admin fee and $75 filing fee – that is it for my bankruptcy? how does the trustee make any money? is their not a bigger cost to file? I asked many times if that was the only cost, any hidden fees and they said no?

Posted from: Ontario

surplus income and household

Questions — Sat, 16 Aug 2008 15:07:11 +0000

I have income of rougly 1700 a month. I am living with someone who makes $1200 month. Having been married and divorced before, the person I live with insisted that we sign a legal agreement that states that although we live together, all of our assets are separate and are not joint assets including our income. I pay rent and a certain amount for board. What effect does this have on my household income in regard to suplus income?

Posted from: New Brunswick

Surplus income puts me further in debt

Questions — Fri, 15 Aug 2008 04:54:24 +0000

I have just filed for bankruptcy. I have also been approved for long-term disability, the amount of which is $2,113/mo, which is just enough to pay bills and buy food. However, my LICO is $1,836, meaning I have a $227 overage. The paperwork we initially did was done using the LICO, leaving me -$166/mo, after the monthly payment to my trustee. Submitting half of the $227 surplus, I am still approximately -$55 each month. I understand the concept of surplus income well enough, but I am having trouble understanding why I`m having to pay surplus that isn`t really surplus – that $227/mo would go to bills and food, just like everything else. It wouldn`t be used for savings.

Can you explain this? If submitting surplus puts me further in debt, am I still required to pay it? If that is the case, even though I`m on disability and will be for some time – and will be likely losing more income -, it might have been better for me not to file at all.

Posted from: Alberta

monthly cost cost of bankruptcy

Questions — Thu, 14 Aug 2008 12:07:16 +0000

What would be the monthly cost (ball park) per month to file bankruptcy for 60,000.00

Posted from: Ontario

End of Bankruptcy Surplus

Questions — Thu, 07 Aug 2008 01:28:40 +0000

I was told that the surplus I have to pay after my 9 months is an amount that the trustee and the creditors have settled upon. How is this amount figured out?

Posted from: Alberta

Bankruptcy, a new child and the Surplus Income Calculation

Questions — Thu, 03 Jul 2008 14:33:08 +0000

My wife is 7 months pregnant with our second child and about to go on Maternity leave.

My wages are going to start being garnished next pay and we have no choice but to file jointly as we have 55000 total debts from credit cards and line of credit dept.

My wife’s income and the extra child are going to change are income in 7 weeks.

How does this affect a bankrupt’s surplus income?

Is it calculated every month?

Posted from: Ontario

How do i start a claim of bankruptcy

Questions — Thu, 26 Jun 2008 06:50:18 +0000

how do i start a claim of bankruptcy? i have no credit rating and it is old debts and student loans where do i start?

Posted from: Saskatchewan

surplus income calculation while working outside the country

Questions — Sun, 01 Jun 2008 03:53:34 +0000

If I were to work outside the country during my bankruptcy, would the threshold used to determine surplus income change?

Posted from: Ontario

Surplus income and debt

Questions — Thu, 29 May 2008 00:55:43 +0000

My husband went bankrupt and had a meeting with the trustees. They explained that his `surplus income` was high and we need to pay $1150. That `surplus` income does not take in account any of MY debt that I still have and therefore we really don`t have enough money to pay that. Do we have any options? or should they be looking at all debts (students loans, car payments, visas?)

Posted from: Nova Scotia

trouble at the end of bankruptcy

Questions — Tue, 13 May 2008 18:31:06 +0000

after receiving counselling going bancrupt was recommended. setup to pay 150.00 per month based on my income. now at the end they are telling me I have to pay 10,000 in surplus income. I am a single mother of 3 children working fulltimetrying to make ends meet. It was hard enough to pay the 150.00 not even possible to pay the 850.00per month they want now. Whatare my options?????? Please help me????????

Posted from: Ontario

surplus $$$

Questions — Wed, 07 May 2008 10:31:07 +0000

In reference to a recent question concerning extensions of the discharge period.. you said this is quite common when the surplus is high. What is considered a high surplus today?

Posted from: Ontario

Trustee Fees and How Do I Pay the Trustee Each Month

Questions — Tue, 06 May 2008 17:48:44 +0000

I have been informed that the Trustee fee is approx $1500.
If and when I file for bankruptcy, how do I pay the trustee each month.
1) Do I have to send him/her a cheque each month or is there direct WEB-BANKING that I can use to send the monthly $$.

Also, what method do I use to send the Trustee a monthly INCOME/EXPENSE report.
2) Do I mail it to him, fax it, or email him the report ?

Thank-you Posted from: Ontario

tax configuration

Questions — Sat, 26 Apr 2008 08:45:59 +0000

I understand that if I file for bankruptcy in say sept, the taxes on my disability income, LTD and CPPD (tax not deducted), will be figured for the year and I would be only responsible for the 3 months after my filing. My question is whether the tax payable is evenly divided over 12 months? Im afraid I will be hit hard as in Jan. I recieved a lump sum of CPP approx $20000 backdated owing. I promptly paid entire amount to reduce my debt with creditors.
Your Q&A section is a great resource and I am trying to read them all.

Ontario Trustee Fees

Questions — Thu, 10 Apr 2008 14:43:34 +0000

In Ontario, what is the fee that a trustee can charge you for the services he provides.

I heard its approx $1700

Also, can this fee be paid in full at the start or does it have to be distributed during the 9 months that I would be in bankruptcy ?

ps. My wife would pay it in full if need be, as I don`t have the funds.

Thanks

Whos best interest?

Questions — Wed, 02 Apr 2008 09:25:24 +0000

I find your site very helpfull, and I feel more comfortable making the decision to see a trustee. The one thing that bothers me is that it seems that the more money a trustee can get out of you or things they can seize, the more money they make. How can they advise you in your best interest?

Disability

Questions — Wed, 02 Apr 2008 09:15:27 +0000

After 3 years of illness and operations I finally had to go on permanent disability. As my income plummeted and bills stayed the same I got myself into huge line of credit and card debt to pay everything. My question is how my income, LTD$1300, and CPP disability $950 a month will be surplused. I am told these are both fully taxable but tax is not withheld.

Spouse`s Income

Questions — Sun, 30 Mar 2008 16:46:33 +0000

I finished full-times studies in October of 1995 and still owe more than $7000.00 in loans. They want their money now in full but I also owe approximately $8000.00 in credit card debt. I do not own a house or a vehicle and I make about $1100.00 a month. The only loan that I qualify for is from Citifinancial and it isn`t enough to pay for everything and the payments would leave me nothing left over to pay the rest of my debts. The student loan people are threatening to sue if I don`t take this loan. They don`t care if I cannot pay the rest of my debts. I am considering bankruptcy but my husband is very concerned over how this will affect him. Will his income (only about $1200.00) a month be taken into account when my payments are calculated? Our monthly expenses are $1950.00 a month and he owes about $11000.00 in credit card debt himself. I also receive $128.02 for a child tax credit for my 5 year old son. Will this be considered as income too?

lost my income, will there be a cost to file for bankruptcy

Questions — Wed, 06 Feb 2008 01:16:05 +0000

I now attend school so I lost my income because I no longer work…my income went from 40k to 15k….will there be a cost to file for bankruptcy…my income comes from child tax benefit and i only receive 1175 per month

New Bankruptcy Law

Questions — Tue, 22 Jan 2008 10:28:58 +0000

I filed for bankruptcy on June 14,2007. I have surplus income and I am due to be discharged on March 14, 2008. During my initial consultation I was informed that if I had surplus income my banckruptcy would be extended 3 – 6 months being a first time bankrupt.

I am curious to know if the new bankruptcy law affects bankrupts who filed before the bill was proclaimed law?

Surplus Income Calculation

Questions — Fri, 18 Jan 2008 00:35:32 +0000

I am considering filing for personal bankruptcy.
The members of my family are my wife and daughter.
My wife works and brings home about $5,000/mo
I also work and bring home about $1,500/mo

Will I have any surplus income ?
How much will I be able to keep base on this $1,500/mo TAKE HOME amount ?

Thanks
ps… How many months will I stay in bankruptcy based on this info.

too much surplus

Questions — Wed, 12 Dec 2007 15:41:18 +0000

Is it true that if you`re above a certain amount of surplus income that your bankruptcy would be extended past the 9 months? Is there a set certain amount or does it vary with each trustee?

single person and surplus income

Questions — Wed, 12 Dec 2007 15:34:54 +0000

I am a single person and would like to know what the basic amount allowed for living expenses is before `surplus income` is calculated?
I understand that I am to pay half of the `surplus income` but would like to know if that is determined for the 9 months at the start of my filing, or is it determined each month? (My income varies each month).

Thank you.

extra money

Questions — Fri, 30 Nov 2007 02:18:41 +0000

what if my paystubs always show about the same amount in net income but i get seperate cheques from my work that will show in accounts receivable part only of my paystub…do i still pay the same amount as my weekly pay still remains the same?

Surplus income in bankruptcy

Questions — Wed, 31 Oct 2007 19:05:13 +0000

I am a Canadian citizen and live in Ontario. I married a Chinese lady in China in April2007, she is still in China.

I make monthly take home pay about $3000CAD, if I file bankruptcy, when trustee or court calculates my surplus income, will they base on one person (myself) or two persons(family)?

Surplus Income Question

Questions — Sun, 09 Sep 2007 05:43:50 +0000

The directive from Superintendant of Bankruptcy with regards to excess income over $1000 per month states the trustee shall take at least 50% but not more than 75% of that range. My question is it sounds like it is up to the individual trustee to make that judgement? Why would it not say must take 75% period? Please advise.

trustee’s tariff

Questions — Fri, 23 Mar 2007 18:16:00 +0000

What is the trustee’s tariff? How much can they charge?

Payments while in bankruptcy

Questions — Sat, 10 Mar 2007 23:38:00 +0000

How are the calculations of your payments done while you are in bankruptcy? I see a lot of posts regarding “surplus” income. What if I don’t have any “surplus”. My family’s living expenses are only just barely covered by my income and I am not making any payments on my debts or interest. The only non-necessity left that I can cut off is internet, which I have not done so far because the kids seem to need it so much for school assignments. Any small surplus that I have each month (ie: 50-75 dollars) I have to save for unexpected bills (car breaks down) or infrequent payments (yearly parking bill), so they aren’t really surplus they are just not owed yet. What type of payments will I be expected to make?

Cost to go Bankruptcy

Questions — Wed, 07 Mar 2007 23:50:00 +0000

I live in Ontario Canada and I am drowning in student loan debt I owe on both my student loans and being low income I have been unable to pay them., they are alomost ten years old and what I want to know is once they are can I bankrupt them cause I am scared about all the debt can’t sleep over it and if I can do that what is the cost of bankruptcy in Ontario Canada? Thanks

surplus income payments

Questions — Sat, 03 Mar 2007 11:31:00 +0000

I am a creditor who opposed a discharge. The bankrupt has been paying for over a year. When do I get my money?