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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 Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Alimony?

I am recently seperated from a Common Law relationship and have agreed to pay the sum $1500 per month for 5 years to my common law partner of 13 years. I am finding it tough to pay all my bills and alimony. I live in Winnipeg and my take home pay after tax is $5800 per month. My question is – in terms of surplus income if I were to claim bankruptcy would the alimony requirement be taken into account so that my take home pay be reduced to $4300 per month for single person?

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One Response to “Alimony?”

A licensed trustee said...

The short answer is YES, your alimony payment will be deducted from your income before the Surplus Income Standard is applied. This is something that you should discuss in detail with your trustee before you file any documents to ensure you understand exactly how your surplus will be calculated.