Income made when Bankruptcy
September 22nd, 2011 by Questions
What is the amount I can make when I declare personial bankruptycy in Canada per year, also is this amount gross or net???
If I make more then the amount what persentage go back to the creditors???
Posted from: New Brunswick
One Response to “Income made when Bankruptcy”
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September 22, 2011 at 9:50 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
What you are referring to is the surplus income obligation.
The threshold amount changes based on the number of people in the household and for 2011 looks as follows:
Ultimately what happens is this is the amount of net income allowed given the number of people in the house and anything above this amount you must pay 50% of as part of your bankruptcy.