Monthly income statement

October 17th, 2006 by Questions

I am currently in bankruptcy in BC and have another 3 months to report before I am discharged. This last week my wife who is not in bankruptcy lost her job and given severance of 4 months pay (net $10 000). When I fill in my monthly income sheet do I have to declare this one off payment. If I do can the licensed trustee take away this money as surplus income?? Even if she finds a job very soon?? How will this affect my income for eg. will all my income be counted as surplus or just my %?? I earn $2500pm
Any other advice will be welcomed, thanks.

Questions

One Response to “Monthly income statement”



October 17, 2006 at 9:46 pm, Barton Goth, GCO Inc. Bankruptcy Trustees said:

The surplus is calculated based on total household income and as a result these monies must be factored into the calculation. Now your trustee will average these funds over the duration you are in bankruptcy and multiply the resulting household income by your percentage of the total family income, but you are right to expect that there may be some additional surplus due.

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