November 17th, 2011 by Questions
What are the consequences of refusal to pay surplus income?
Posted from: Ontario
One Response to “Surplus Income”
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November 17, 2011 at 1:20 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
The consequences are very simple, your debts will not be released and your creditors collection rights will be re-activated. Now there are a few steps to this, your discharged will be refused, your trustee will be discharged and the courts will be leave you in bankruptcy, but the court protection will be removed and the rights of the creditors will be reinstated. But regardless of the steps the result is the same.
Fulfilling the surplus income obligations associated with a bankruptcy are not optional, you are required to complete them if you want to be cleared from your debts.