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

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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.

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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.

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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.

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Regarding Surplus Income

Will I be required to pay anything ?

I lost my job a few months ago. I am not working.
My wife works and has a $65K annual income (gross).

Is there any surplus income in this scenerio ? Will either myself or my wife be required to pay any surplus income ?

She works and I don`t at this time.

Thank-you

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One Response to “Regarding Surplus Income”

A licensed trustee said...

If you have no income at all (no employment insurance, no pensions, no paycheque) and you file for bankruptcy then you will not be responsible to pay any surplus – in cases like this it doesn’t matter how much your spouse earns (unless they have also filed bankruptcy).

Once/if you start to have any income you may very well have to pay surplus, but you can cross that bridge when you get to it…