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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 for 21 months

For surplus income you stated anything over the allowed amount ie. 1755 (single) is surplus and you would pay the trustee
(50% of $1,000) and (75% over $1,000)…if it was stated at the beginning of the bankruptcy by the trustee that I would have to pay for 21 months would I just have to pay 50% of whatever surplus I make or will I still have to pay 75% for any surplus (raise or bonus) to the trustee for the 21 months? just wondering if the percent would change because I am in in for a longer period of time

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One Response to “Surplus for 21 months”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

The percentage rules still apply regardless of the time estimates provided by your trustee. For more detail contact your trustee for an explanation as to the reasoning behind this.