FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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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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Surplus income

does surplus income includes the full-time income of the adult child who is living with the bankrupt person ?

Posted from: Ontario

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One Response to “Surplus income”

Barton Goth – Goth & Company Inc. – Bankruptcy Trustees said...

Yes and no. Their income is considered at the begining of the calculation but at the end of it is factored out (you probably remember the portion of the calculation where you multiply the payment by your percentage of the household income). For mor information on this you are best to contact a local trustee who can take the income figures for your household unit and walk you through this calculation in detail.