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

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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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Monthly Income & Expense Report

I just filed for bankruptcy but wondered what happens when my monthly expenses are lower than my income? My take home pay is under the threshold that`s set out in the Superintendent`s Standards for surplus income. Would the left over cash be considered surplus or can i just start a savings with it? Thank you

Posted from: British Columbia

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One Response to “Monthly Income & Expense Report”

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

This is a good thing and nothing will happen to you as long as your income is less than what is required by the Superintendent’s Standard. I always suggest setting some of this money aside for a rainy day, but ultimately it is up to you.