How much will I have to pay in surplus income if I go bankrupt?
There are monthly income thresholds for a person or a family to maintain a reasonable standard of living in Canada.
Every dollar that a bankrupt family makes above that level is subject to a surplus income payment of 50% for the time while a person remains bankrupt. If your average surplus income each month is greater than $200 over the limit, your bankruptcy is automatically extended.
Thank you and the staff of A. Farber & Partners for their outstanding service in helping my wife and I turn our lives around. We couldn’t have done it without your help. We know we picked the right people to help us.