Tag Archives: cost of bankruptcy

Can Both Spouses File a Joint Bankruptcy?
By Joel Sandwith
14 Feb 2014 | Category: Bankruptcy in Ontario | Bankruptcy FAQ | (2) comments
joint bankruptcy spouse

Debts in a marriage can be incurred separately or they can be considered joint debts. Depending on the unique family circumstances it may be necessary for one, or both spouses, to file for bankruptcy in order to eliminate their individual obligations to repay these debts. A joint bankruptcy happens when…

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Will My Surplus Income Payments Change Every Month?
By Angela Marquis
10 Jan 2014 | Category: Surplus Income | Leave a comment
surplus income payments bankruptcy

When you file for bankruptcy, at the initial filing, your financial situation is evaluated by your Bankruptcy Trustee to determine the cost of your bankruptcy.  In addition to the administrative costs there is a surplus income guideline that is set by the Superintendent of Bankruptcy.  If you’re household income is…

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Does Vacation Pay Affect Surplus Income Calculation?
By Joel Sandwith
03 Jan 2014 | Category: Surplus Income | Leave a comment
vacation pay surplus income in bankruptcy

When someone is bankrupt they are required to complete monthly statements of their income and expenses.  Proof is required of the income for all members of the household and any of what is called non-discretionary expenses, such as medical, support (child and spousal), employment, fines or tickets. All household income…

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Bankruptcy Fees in Ontario – What If I Can’t Afford to Go Bankrupt?
By Bankruptcy Ontario Trustee
05 Apr 2011 | Category: Bankruptcy in Ontario
bankruptcy fees | trustee fee

Question: What happens if one cannot pay the Ontario bankruptcy fees charged by the trustee? $200/month for 9 months will mean we don’t eat or have heat or some other necessity. What happens then? Answer: All trustee firms in Ontario are private companies, so they require a contribution from you…

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Child Support Payments As Income In Bankruptcy in Ontario
By Bankruptcy Ontario Trustee
14 Jul 2010 | Category: Surplus Income
child support income bankruptcy

Question: I am thinking of claiming personal bankruptcy. I have two children and at this time I am not receiving any child support from their father. If I claim bankruptcy and he then starts paying child support how does this affect me? Answer: The amount you are required to pay when…

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Self Employed Income and Surplus Income In Bankruptcy
By Bankruptcy Ontario Trustee
22 Apr 2009 | Category: Surplus Income
self employed income bankruptcy

Question: I am a self employed carpenter and have a lot of debt that I have not been able to maintain. At the same time I have to pay for my tools, equipment truck and other operating costs. If I go bankrupt, how is my income viewed when you calculate surplus…

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