trouble at the end of bankruptcy

May 13th, 2008 by Questions

after receiving counselling going bancrupt was recommended. setup to pay 150.00 per month based on my income. now at the end they are telling me I have to pay 10,000 in surplus income. I am a single mother of 3 children working fulltimetrying to make ends meet. It was hard enough to pay the 150.00 not even possible to pay the 850.00per month they want now. Whatare my options?????? Please help me????????

Posted from: Ontario


One Response to “trouble at the end of bankruptcy”

, Barton Goth GCO Bankruptcy Trustees said:

If you owed surplus you should have been paying surplus and there is really no way around this. You could always request mediation, the trouble with mediation is your trustee is required to have you pay surplus and if you are not going to meet that requirement mediation will be unsucessful and you will have to go to court. At court you can try to influence the judge, but realistically the judge is likely to side with the legislation and require this payment to be made prior to you being discharged. So from where I am sitting if you want to be discharged you will look at your expenses, cut back on some of the less necessary items and find a way to make monthly payments on the outstanding surplus.

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