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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My wife and I make too much

So i am meeting with a trustee in a few days. Will it be a problem if my wife makes 85000 and I make 92000/year?

I am declaring bankruptcy. Will we be treated differently? We are mortgaged to the max and our home value isn`t worth what we paid for it a year ago. We bought for 540 000. Its worth maybe 450 000. What do you think?

Posted from: Ontario

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One Response to “My wife and I make too much”

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

The cost of a bankruptcy is scaled depending on your income. With income the size of yours and your wifes there will be substantial surplus, so I am expecting that the cost of a bankruptcy will be significant.

The other thing you may want to consider is the possibility of filing a proposal as opposed to a bankruptcy. I think you will find that the trustee will strongly consider suggest this just because of the level of income you have.