Mr M

April 6th, 2011 by Questions

Considering this route, but do have 2 older kids living with me,they do work,will they be affected by me declaring bankruptcy?they do help financially.Thanks

Posted from: Alberta


One Response to “Mr M”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

There may be an impact indirect impact on your cost of bankruptcy as you have two additional sources of income in the household. Essentially the cost of bankruptcy is based on a guideline set by the government (surplus income obligation) and this guideline stipulates that your cost of bankruptcy of bankruptcy is based on your percentage of the household income.

As this calculation can be somewhat confusing, I would recommend you contact a local trustee to discuss the details.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)