Excessive income and discharge

March 4th, 2007 by Questions

Hi, I declared bankruptcy, I have made all my payments, I am one month away from my 9 months and have met all requirements. I fully understand that I will probably have to pay another 9 months or so due to my income of $50 000, but what i am wondering is how much?? I live in BC, will it be the same average of about $450 a month, more, less, one lump sum, any help would help. Lastly, I may require surgery AFTER the 9 months and my income will diminish during two months or so since I will only get about 60% of my salary, will it adjust? these few months will be very hard to stay afloat. Thanks


One Response to “Excessive income and discharge”

, A licensed trustee said:

Unfortunately, you need to direct this question to your trustee – they will know the practice of the local Court. Here in Ontario, we give our clients a couple of options:

1) use the average amount you have had to pay for the first 9 months as your payment for the extension (anywhere from 1 to 12 months)

2)continue to hand in monthly income sheets and pay the actual surplus incurred each month during the extension

3) set a fixed amoutn that must be paid and allow you payments to flucuate during the extension period

Contact your trustee and ask them how you case will be handled and whether or not you may pick which way the Court deals with your discharge.

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