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Surplus Income & Length of bankruptcy

I am self employed, and am wondering if my surplus income rises due to a new contract, will aid in clearing me sooner than later?

Posted from: British Columbia

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One Response to “Surplus Income & Length of bankruptcy”

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

If anything an increase in income will result in your bankruptcy taking longer. Where you have surplus income the court will often get involved and require that you stay in bankruptcy for an extended period of time. The logic that is typically used is that you have more means than others, so as an attempt to equalize the process logic suggests you should pay a higher percentage of money back than those with less income.

I would recommend you contact a local trustee to discuss directly.