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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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What counts as income?

I am currently unemployed. If my parents pay my living expenses during bankruptcy, but do not actually give me the money directly, does this count as income?

Posted from: Ontario

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One Response to “What counts as income?”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Technically this is up to the discretion of the trustee, but likely the support you receive from your parents won’t make any difference in the way a bankruptcy would progress. Even if you have no income you still have a minimum amount that must be contributed into a bankruptcy, and then this amount will fluctuate with the level of income you bring in.

The best thing to do in this sort of situation is simply contact a local trustee directly and they will be able to explain this in more detail.