Until you find out that you have a career prospect in another city or even another province. You may find out you are losing your job or that you’ve been offered a different job at a higher salary.
Now what do you do?
If you have been keeping up with your duties, the good news is that you will not have to worry about starting a new job. There are two areas that you’ll need to inform your trustee about if you decide to change jobs:
Update Your New Information
In a bankruptcy, your trustee is required to be advised of any contact information changes. This means your address, your phone numbers and your email addresses. So if any of this information is changing because of a job change, you should update your trustee with the new information right away.
Highlight Your Income Change On Your Next Statement
In a bankruptcy, your trustee reviews your income monthly. When you submit your next statement, highlight your new job information so that the trustee is aware that you now have a new job. If you are making more money, this may put you into the requirement to pay surplus income. Your trustee will advise whether you’re required to pay surplus income upon receipt of your income statement.
Changing Jobs Will Not Affect Your Ability To Complete Your Bankruptcy
If you’ve filed bankruptcy and worry that deciding to make a job change may hinder your ability to complete your bankruptcy or to deal with your debt, rest assured that as long as you update your information with your trustee and maintain your payments as normal, you can eliminate your debts as planned. Filing for bankruptcy doesn’t limit your ability to advance your career. Instead, it’s an opportunity to get a fresh financial start focused on making sure that you succeed even after you have eliminated your debts.