October 19th, 2006 by Questions

who determines the “surplus income”…is this only for bankruptcy or can it be included in a division I….and does surplus income go towards the debt that is still owing to help pay off the debt sooner……my husband is capable of making extra money a month well over 1,000.00 (quite a bit) how much of that is given to the trustee……we are trying to decide whether he should take these jobs when they are offered


One Response to “bankruptcy”

, Barton Goth, GCO Inc. Bankruptcy Trustees said:

The surplus income is based on a guideline that is sent by the superintendent to every trustee in Canada. Technically speaking it only directly applies to someone filing a bankruptcy, but it is indirectly factored into both types of proposals as you have to offer at least as much to your creditors in a consumer proposal as you would in a bankruptcy and to determine this the surplus income guideline must be applied.

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