surplus income

September 11th, 2011 by Questions

If I file for bankruptcy and move in with my 83 year old mother, will they use her income to determine if I have a surplus? And if they don’t and I make 2054.00 per month will I be in bankruptcy for 21 months instead of 9 months? At present I’m unemployed and will only receive EI until the end of December plus what I receive from my exes pension (1350.00)

Posted from: Ontario


One Response to “surplus income”

, A licensed trustee said:

Surplus income is based on the total household income and the number of people living in the home. If you move in with your mother then yes, her income will be included in the calculation. She has the right to refuse to disclose her income, but if she does then the threshold used for your calculation will be cut in half and (baswed on your income) you’ll have surplus and be looking at a 21 month procedure.

You’ll need to speak to a trustee directly to work out the actual numbers and discuss the timing of all of this. It may be that you shouldn’t file until next year…

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.)