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

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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.

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laid off work

if i were to receive a severance package during bankruptcy would all that go into paying creditors owed?

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One Response to “laid off work”

A licensed trustee said...

That will be up to your trustee. It may be treated as a “windfall” in which case your trustee may seize the entire amount, or it may be treated as “income” subject to the surplus income rules – you need to discuss this with your trustee to determine how it will be handled.