surplus question

September 22nd, 2009 by Questions

Hello,

I am married and own a house, the house is only in my name. If I file for bankruptcy do they count my wife income as a surplus? she has her own debts and i have my own. thank you

Posted from: Ontario

Questions

One Response to “surplus question”


, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

The Superintendent surplus income obligation is a little confusing, as it starts out by including both income’s in the household. However, at the end of the calculation it also multiplies by your percentage of the household income, so is really trying to account for the fact that your wife is not filing for bankruptcy.

The only other option is to not disclose your wife’s income, but then you are only allowed 50% of the threshold amount and will likely end up costing you significantly more.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)