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Most Recent ‘Q&A’ Posts

Living expenses

What happens if after you complete the form detailing your family monthly expenses and then one of your expenses increases like you strata fees and food? What effect does this have on your surplus income? Can these things be changed during the bankruptcy as the cost of living will obviously be changing during bankruptcy or […]

garnishments

I have been in a bad divorce and have still not received a cent in support from my ex..I am barely getting by as it is with 2 small children. I already have one garnishment coming out of my pay and have just been served with another one. If I file for bankruptcy, do these […]

maternity leave over during bankruptcy

what happens to the surplus income once my maternity leave payments are over? Does my husband get to keep more of his wages instead of paying the trustee? Also if you owe money for taxes and gst to they keep your children`s tax benefits and universal taxes? Posted from: British Columbia

Income surplus reporting

What about the Income surplus reporting? If one person files for bankruptcy before wedding (as a single income person) and couple of months later gets married, the income is no longer as single person but as a family. Does it mean that now he/she will need to pay Income surplus for the reminder of the […]

When can a creditor garnish your wages

I am planning on going bankrupt but not for a few months. I have not paid my creditors for 2 months and it will probobly be another month before I officially file. When can a creditor garnish your wages? Do they have to tell you first or can they just go straight to your employers? […]

surplus income

I filed for bankruptcy November 2008. My trustee set a monthly payment plan of $150.00 per month but my income sometimes varies, sometimes it is over and sometimes it is over what I was assessed at. Are the 9 months added together at the end and averaged out, so that the months that I over […]

possible retiree

What if during during bankruptcy, I come into a lump sum of money from my work do to an incentive retirement package. How do I handle this money during this timeframe Posted from: Ontario

Bankruptcy and C.L Spouse

If I file for bankruptcy, how does this affect me as far as the income my common law spouse brings in? Is this calculated in surplus income? Is he included in the number of persons in the household? Posted from: Ontario

Bankruptcy and separation

Our debt gets divided evenly. So what about our assets. My soon to be ex-husband sold our boat to his girlfriend whom he was/is living with, just so he wouldn`t lose it but still gets to keep it. This was done a week before he filed. The boat was not sold by the trustee. He […]

Investing into new business

During bankruptcy, I would like to start a new business that requires to invest some money into computer equipment. At present, I don`t have enough money to purchase it so I need to allocate some funds every month until I get a necessary amount to purchase it, and then it becomes a business expense. How […]

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