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 Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Bonus Pay

If I declare bankruptcy and then due receive a bonus from work. Will I be able to keep any of it? I will already be paying a surplus amount, will this just get added to the surplus equation or will they take it all?

Posted from: Ontario

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One Response to “Bonus Pay”

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

Any bonus you receive that is related to employment is considered a part of your total income and must be used when calculating your surplus payment that month. So you won’t lose all of the bonus but your monthly payment in the bankruptcy may be significantly higher than normal.