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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 ?

What are the factors used to determine if a bankrupt has a surplus Income? If a bankrupt has nothing indicated on their initial bankruptcy documents upon signing about surplus income can a Trustee claim a bankrupt has surplus income after the fact?

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One Response to “Surplus Income ?”

A licensed trustee said...

Full details on surplus income can be found in our article on surplus income. Each month the bankrupt is required to provide the trustee with proof of their family income for the month. Based on this information the surplus income payment increases or decreases as income increases and decreases, so the amount can change each month.