David
Hi, my wife and I have $90,000 in dept; most of it on credit cards. She has a stable income of $2200/month, but my self-employment income during the last few months has reduced to $2000. What proof of income will I be required to show – my last year’s statement from Revenue Canada or just current bank deposits?
Thank you.
This will depend largely on what you are looking at filing and the area in which you are filing.
Firstly, what is being filed is important because a proposal requires a better idea of what future incomes will be and the only real predictor is past performance. As such a debtor is often required to provide more information to the trustee and in turn the creditors when ascertaining monthly average income.
Second, you will find each jurisdictaion has a different standard of practice so different information may be required depending on where you are planning on filing.
To me is sounds as if you are best to contact a a local trustee and they will be able to inform you of what specifically you will be required to provide.