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bankruptcy

a husband and wife have filed bankruptcy, live with 2 children and 2 parents, so 6 in total. what is the amount they are allowed to keep? Is trustee allowed to ask for receipts for non discretionary expenses which we do under our allowed income.thanks

Posted from: Ontario

One Response to “bankruptcy”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The total household income permitted for 6 people in the household is $4,365 as per the most recent Superintendent Guideline.

In terms of your receipts, your trustee has the ability to ask for any of your receipts in a month, discretionary or non-discretionary. As for the non-discretionary receipts, these are submitted to the trustee as the trustee has duty to verify they are legitimate. If they are legitimate then they are subtracted off your income before the Superintendent Guideline is applied. So realistically speaking failure or unwillingness to submit these receipts to your trustee only hurts you as the result would be your bankruptcy will cost more.