FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

This field is hidden when viewing the form

Source

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.

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Select Trustee By Province

Is fact of saving some money every month considered an income surplus

Is fact of saving some money every month considered an income surplus?

Will fact of saving money effect the time of oppose the discharge?

Posted from: British Columbia

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “Is fact of saving some money every month considered an income surplus”

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

Saving money and the Surplus Income Obligation are two different things.

The Surplus Income Calculation is provided to every trustee in Canada and it determines what the cost of bankruptcy will be depending on their household income and the number of people that the income is used to support. As long as you pay the required amount during a bankruptcy, there is no problem with you saving money, in fact I encourage this wherever possible and you don’t have to worry that this habit of savings will penalize you at discharge time. The discharge looks at whether or not you have completed the duties and responsibilities required through the process and has nothing to do with whether or not you were able to save.