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

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Surplus income

I have not been able to work for the last year and my husband has been carrying the load, which has forced us to consider bankruptcy. He is a self contractor and is not getting any work right now. we have 3 small children. we are thinking about switching. I go to work and he stay home with the kids since he is not getting any work. I found a job I want to apply. It is only a 1 year contract position. I am not sure what they will do with the benefits. they may tack on the benefits onto my pay. I am not sure if it will be just during pobation or the whole year. If they do, the house hold income may be sightly more than the amount that is allowed. In that case, will our bankruptcy be automatically extended?

Posted from: Ontario

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One Response to “Surplus income”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

If you average income during bankruptcy is more than $200 above the allowable amount listed in the surplus income guideline issued by the Superintendent of Bankruptcy, then your bankruptcy term is automatically extended from the 9 months to 21, assuming this is your first bankruptcy.