question on bankruptcy
My question is… My husband and I did file for bankruptcy.. WE are two months in right now…..I dont work. The income is under 100 surplus.. So no surplus every month except the one money where he gets an extra pay.. We were told that we can do the 9 month … But i was wondering the extra month that puts him way over for that one month.. Will that put him in the 21 month bankruptcy.. Or will we stay in the 9 months.. I asked them, she keeps telling me she cant say until she see the paper work. I am hoping you can answer this for me. thanks
Posted from: Ontario
You are required to submit monthly statements of income and expense for the first 6 or 7 months of your bankruptcy. Your trustee is required to determine your average income during the period and if your average income is $200 or more over the government standard then you are required to pay surplus income and your bankruptcy will be extended to 21 months. Your trustee should have explained all of this to you BEFORE you filed.