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Bankruptcy and My Income

Posted by in Bankruptcy
16
Dec 2019
When it comes to bankruptcy in Canada, many are unfamiliar with how surplus income affects your bankruptcy process. In general, surplus income is your monthly income during the time you are bankrupt—basically, the higher your income, the more surplus income you will have to pay. Many sole proprietor owners and ...


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What Are Surplus Income Payments?

Posted by in Bankruptcy
2
Dec 2019
When self-employed and sole proprietor owners get overwhelmed with debt, many file for bankruptcy to gain a fresh start. However, after you have filed for bankruptcy, you might have to make monthly payments known as surplus income payments. It’s important to know when you declare bankruptcy what your income is and if it ...


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