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”

, 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.

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