FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Instagram

This field is for validation purposes and should be left unchanged.

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

This field is hidden when viewing the form

Source

How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Select Trustee By Province

considering bankruptcy-what is included as income

I am at the point that I may need to claim bankruptcy .I am curious if my structured life annuity stemming from a car accident settlement years before is included as income. I receive a monthly payment deposited directly into my bank account. The amounts I receive per month are not claimed on income tax, nor on mothers allowance etc…

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “considering bankruptcy-what is included as income”

A licensed trustee said...

Unfortunately, your structured settlement payment is considered income for bankruptcy purposes.

Any/all income that a household receives is used to determine a persons Surplus Income obligation if they file an assignment in bankruptcy.

To determine what you payment would be I suggest you find a trustee from your area (by using the links at the side of the page) and contact them directly to discuss your options.