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Income surplus reporting

What about the Income surplus reporting? If one person files for bankruptcy before wedding (as a single income person) and couple of months later gets married, the income is no longer as single person but as a family. Does it mean that now he/she will need to pay Income surplus for the reminder of the bankruptcy proceedings?

Posted from: Ontario

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One Response to “Income surplus reporting”

A licensed trustee said...

The surplus income requirements are based on the number of people living in the household and the total income of the household. If you weren’t living together before the wedding then once you start living together both the number of people in the household and the allowable income before surplus will change.

Every month of your bankruptcy you should be reporting your income and houehold members to your trustee – if you want to be able to budget/plan for the family after the wedding simply discuss the changes with your trustee. They can easily tell you how your payments will be affected.