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i work on commission sales and had a better year in 2011 than 2010. can they take the last 2 years and average out my wages for a consumer proposal? my job in very unpredictable and my trustee said they will let me go bankrupt as they would expect a higher surplus income. any advice???

Posted from: British Columbia

One Response to “help”

A licensed trustee said...

It is your responsibility to determine what income you are going to report on your documents when you file a proposal (or bankrupcy). It is your trustee’s responsibility to test the accuracy of your information and comment on it.

So… what do you think 2012 will look like? 2011 or 2010? Your plan to average makes some sense, but only if there is some reason to think your income will be lower next year than this year. In most cases, trustees use the last 6 – 12 months as a guide. If you want to use something else then you’ve got to convince your trustee the numbers you’d like to use are “reasonable”.