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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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Surplus

my 10 year will be up in 3 monthes and I make $1650/month which is below the allowed limit. When I go to trustee to file for bankrupcy I will be required to submit a monthly expense statement. A friend offered me a tiny space to sleep for free that means my rent is free and as a result of this I may have a few extra cash each month. Will I pay this extra cash to my trestee or is it for me to keep?.
Please help this question and thank you for your time.

Posted from: Ontario

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One Response to “Surplus”

Barton Goth GCO Bankruptcy Trustees said...

IF you make less than the surplus figure, have made the necessary payment to the trustee to cover the minimum cost and are able to save money, then any of this money you save is yours. It is only when you have surplus that you would be required to pay more.