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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Savings

I went bankrupt in August, and since then, Life has changed. A boyfriend moved in and we`ve managed to save a little bit of money, not a lot, but we`re happy to finally have soemthing to fall back on besides credit cards. Can this money be taken away from us?

Posted from: Ontario

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One Response to “Savings”

A licensed trustee said...

Your are permitted (even encouraged) to save during bankruptcy so that fact that you’ve been able to set aside some money is not a problem, but…

If you haven’t already done so, you need to inform your trustee that your living situation has changed. Your boyfriend’s income may affect how much you are required to pay to your trustee for “surplus income” – these payments are based on household size and total income.