Free Consultation

Gross Pay

My husband and I are filing a consumer proposal. When they looked at my last paystub they calculated my YTD pay to get my monthly take home amount. However, they included a bonus that I was given this year, small but still. Is this correct as it makes the monthly amount higher when doing this?

Posted from: Ontario

One Response to “Gross Pay”

A licensed trustee said...

It may be – the income statement that you will be asked to sign and send to your creditors is supposed to represent what a normal month looks like for you. It is your budget – don’t let whomever you are dealing with “increase” the numbers to make things work – if the numbers aren’t realistic then they are just setting you up to fail…

At the end of the day you have to be comfortable that you can afford to make the payment – if you can’t then you need to rework the numbers until you are.