April 18th, 2005 by Questions
I am on total disability and am receiving disability income from the canadian gov\’t and a private insurance company (employer provided disability coverage).
I am currently sueing an insurance company in Ontario in order to get them to pay me a disabilty policy which I bought outside of work.
If I lose, am I required to pay the other side\’s legal fees (would make me bankrupt)?
If I lose, during the bankruptcy process, is my disabilty payments considered as income for the purpose of bankruptcy?
One Response to “Disability Income”
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April 20, 2005 at 4:21 pm, A licensed trustee said:
Generally yes, if you lose, you are required to pay the other side’s legal fees, although the final decision on that is up to the judge.
While bankrupt the trustee will consider all income when determining the amount you are required to pay into your estate.
For more details on your specific situation, contact a trustee for a free consultation.