Cost of Bankruptcy Articles - Archive: 2008

My question is if I can travel after bankruptcy? Posted from: Ontario

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

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 [...]

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 [...]

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: [...]

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 [...]

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 [...]

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 [...]

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

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