Court fines
If I was sued by someone and settled out of court through lawyers and was making payments prior to a bankruptcy, can I continue to make those payments during the bankruptcy i.e. can I deduct this from my income before the surplus income calculation is made, or would I be prevented from continuing to make these payments if I declared bankruptcy?
Posted from: Ontario
This really depends on the nature of the settlement. From the sounds of it this will be a debt you will be cleared from during a bankruptcy, but you would be best to take in documentation concerning this settlement to a local trustee, have them review all the associated details and then they will be in a position to give you a concrete opinion.