injury claim and bancrupsy
May 28th, 2009 by Questions
i am on dissability income and not have enough income to pay off my 65000 debts if i declare bancrupsy what happens when i get wage loss for injury claim how much of the income loss compensation trustee can take please help
Posted from: British Columbia
One Response to “injury claim and bancrupsy”
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May 29, 2009 at 8:38 am, A licensed trustee said:
When you receive your wage loss claim it will either be subject to the surplus income rules (ie treated as income in the month you receive it and penalized accordingly) or as a windfall and seized out right. It depends on the nature and amount of the claim and how much of your debt was incurred as a direct result of waiting for the claim. You need to speak to your trustee about this in detail BEFORE you file so you know in advance how it will be handled.