Surplus Income Frustration
January 22nd, 2010 by Questions
Is there any indication that the new September 18 rules on Surplus income might be changed in light of the economic fiasco?
Here`s why I ask. My husband lost his job and the savings were depleted on a reno project that we were doing for a rental property. Following this we were unable to make payments and have filed for bankruptcy. We surrendered both houses (ours and the rental-mid reno) both vehicles, recreation trailer and quads. Yes, we were carrying too much debt, but bringing home equal incomes made it doable.
Now we`re in bankruptcy and my husband is out of work. As such, he will be in bankruptcy for only 9 months. I on the other hand am now supporting both of us and get the added bonus of having to be in bankruptcy for 21 months. And I`m not only paying my monthly surplus income calculated payment, but his too! How unfair is this!
Posted from: Alberta