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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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Surplus income

What is the ceiling on income per month before it is deemed surplus.
Is the amount before or after taxes

Posted from: Ontario

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One Response to “Surplus income”

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

The surplus income obligation that you are referring sets a threshold for the amount of net income allowed before your cost of bankruptcy is increased.

The thresholds for 2012 are as follows:

1 person $1980
2 persons $2465
3 persons $3031
4 persons $3680
5 persons $4174
6 persons $4707
7 or more $5241