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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Surplus Income Owed – Conditional Discharge recommended

Just wondering – 1st time bankrupt, just finished 9 months and submitted last monthly budget. Surplus income calcuated owing. If a family member (parent of bankrupt) provided a loan, to pay the exact amount of the remaining surplus – what would happen. Would it be considered income or would then be completed? Thank you for your time.

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One Response to “Surplus Income Owed – Conditional Discharge recommended”

A licensed trustee said...

Generally if a family member loans you money to complete your bankruptcy it is not considered income, but this is something you should discuss with your trustee.