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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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How much surplus is alowed

I already payed fees for my bankruptcy, how much should I pay surpose for creditors

Posted from: Ontario

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One Response to “How much surplus is alowed”

A licensed trustee said...

I think you may have misunderstood something about surplus income payments – there is no upper limit. The more you earn the more you pay. For example, the government has decided that a single person requires $2,006 after-tax income to have a reasonable standard of living. Every dollar you earn over that during a bankruptcy is penalized at the rate of 50%. If your $200 over you pay $100. If your $500 over you pay $250, etc., etc., etc…