FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

This field is hidden when viewing the form

Source

How can we help you?

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Name

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

medical expenses

According to the rules of surplus, medical expenses are deducted from income and not the end result. Therefore a disabled person incurring $200 a month in medical expenses only pays $100 less in his monthly surplus payment than his healthy friend with the exact same income amount.
Do you believe this to be fair?

Posted from: Ontario

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “medical expenses”

A licensed trustee said...

Whether or not it is fair, it is the law. Medical expesnes (just like day care and support payments) reduce your income prior to determining your surplus income payment if you file for bankruptcy. If a mediacl expense is deductible for tax purposes it may be claimed in a bankruptcy. Of course if you have a benefit plan that re-imburses you for some or all of the expense then you may only deduct the portion you have to pay yourself.

Sorry, that’s how it works…