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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surplus income

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

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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…