Free Consultation

Timing of OAS & CPP Benefits

I will be going bankrupt soon and all I have for income is OAS and CPP of approximately $1,395 per month so I am hoping to qualify for a nine month bankruptcy. My spouse is unemployed but will qualify for OAS and CPP of $1,125 in about one year from now. Nine months of my bankruptcy would be completed before my spouse qualifies for OAS and CPP. The total of our pensions would put us over the allowable net income for a two person household before

Knowing that my wife will receive OAS and CPP a year from now, would my trustee impute my spouse’s income and make me be a 21 month bankrupt?

Posted from: Ontario

One Response to “Timing of OAS & CPP Benefits”

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

Your cost of bankruptcy will be based on what is happening currently, not what is projected to happen a year from now, so you shouldn’t run into any difficulties.