Lump Sum Surplus
November 26th, 2013 by Questions
My family income does not put me in a position where I would have a surplus payable to my creditors. However, during my bankruptcy it is possible that I will receive a one time lump sum payment that will make a surplus. Does this automatically mean my bankruptcy extends to 21 months?
Posted from: Ontario
One Response to “Lump Sum Surplus”
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.)
You must be logged in to post a comment.
November 26, 2013 at 6:49 pm, A licensed trustee said:
It literally depends on the nature of the lumpsum payment – is it some form of retro-active pay, or a bonus? The source of the money will impact how it is handled and whether or not it might cause you bankruptcy to be extended. All I can suggest is you make certain you discuss this with your trustee BEFORE you file.