Regarding Surplus Income

March 4th, 2008 by Questions

Will I be required to pay anything ?

I lost my job a few months ago. I am not working.
My wife works and has a $65K annual income (gross).

Is there any surplus income in this scenerio ? Will either myself or my wife be required to pay any surplus income ?

She works and I don`t at this time.



One Response to “Regarding Surplus Income”

, A licensed trustee said:

If you have no income at all (no employment insurance, no pensions, no paycheque) and you file for bankruptcy then you will not be responsible to pay any surplus – in cases like this it doesn’t matter how much your spouse earns (unless they have also filed bankruptcy).

Once/if you start to have any income you may very well have to pay surplus, but you can cross that bridge when you get to it…

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