August 23rd, 2010 by Questions
How does trustee payment work if individual has no income.
Posted from: Ontario
August 24, 2010 at 8:11 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
To file for bankruptcy with little or no income you would qualify for the minimum cost offered by the local trustee. To file you are responsible to pay this fee or you won’t be discharged from your debts.
However, currently you may have no need to file for bankruptcy. With no income you are creditor proof, meaning there is nothing your creditors can do to force payment from you. As a result you may want to wait and file for bankruptcy when your income position improves.
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