Posts Tagged ‘superintendent of bankruptcy’
2020 Surplus Income Standards
The Government of Canada has set net monthly income thresholds for a person or family to maintain a minimal standard of living in Canada. Every dollar that a bankrupt family makes above this level is subject to a surplus income payment of 50% while a person remains bankrupt.
Read More2019 Surplus Income Standards
The Government of Canada has set net monthly income thresholds for a person or family to maintain a minimal standard of living in Canada. Every dollar that a bankrupt family makes above this level is subject to a surplus income payment of 50% while a person remains bankrupt.
Read More2017 Surplus Income Standards
The Government of Canada has set net monthly income thresholds for a person or family to maintain a minimal standard of living in Canada. Every dollar that a bankrupt family makes above this level is subject to a surplus income payment of 50% while a person remains bankrupt.
Read MoreHow Long Will I be Bankrupt?
If you are a first-time bankrupt, you are eligible for an automatic discharge from bankruptcy after 9 months if you have no obligation to make Surplus Income payments and after 21 months if you have to make Surplus Income payments.
Read MoreWhy Choose a Licensed Insolvency Trustee For Advice?
A Licensed Insolvency Trustee will treat you in a dignified manner and review the facts of your situation and review the options to deal with your financial situation, including explaining how personal bankruptcy or a consumer proposal would work for you so that you can make an informed decision and choose the solution that is best for you.
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