January 24th, 2010 by Questions
I`ve been accepted for a CPP Disability. They are giving me a back pay of $10 thousand. Will I lose this to my creditors?? I`ve already declared bankruptcy 5 months ago.
Posted from: Ontario
January 25, 2010 at 6:30 am, A licensed trustee said:
You will certainly lose a portion of it. The reasoning is fairly straightforward – if you’d received the money earlier you may not have incurred as much debt or you may have used a portion to make payments towards your debts.
Give your trustee a call so that you can discuss this matter with them. Without a detailed knowledge oif your file, I can’t really give you specific advice or tell you how much of the retro-active payment you may be required to pay to your trustee for the benefit of your creditors.
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