Sentences with phrase «income during bankruptcy»

Have you ever wondered how courts find out about your expenses and income during bankruptcy proceedings?

We strongly suggest you read the government's brochure (Directive 11R2) and discuss with your trustee how they will be handling surplus income during your bankruptcy.

If you are considering bankruptcy, you should estimate your income during the bankruptcy period, so you can estimate your surplus income and therefore the cost of your bankruptcy.

Your Kitchener bankruptcy trustee will work with you to estimate your projected income during the bankruptcy period, and put you on a payment plan so that the cost of the bankruptcy is paid in full so that your bankruptcy can end on time.

Not exact matches

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These costs are: Base Contribution Surplus Income Assets Lost During each month of bankruptcy, you are required to pay a base contribution.

In bankruptcy, mediation is available to resolve two types of disputes: disagreements over the amount of money the bankrupt will pay to the trustee for the benefit of the creditors during the bankruptcy (called surplus income payment); and disagreements regarding the conditions that the trustee has recommended for bankruptcy discharge.

If you think your income will increase during your bankruptcy, or you expect to receive a bonus, this may cause a surplus income payment, increasing the cost of your bankruptcy.

At the end of the 21 months period, if there was no change to his income or family size during the bankruptcy, and he paid the required amount, (assuming there are no objections to his discharge) he would receive an automatic discharge from his bankruptcy.

It is very important that you understand how surplus income and surplus income calculation work and what your duties and responsibilities in this regard are during your bankruptcy.

Canadian Child Tax Benefits will continue to be received by you as normal during a personal bankruptcy as they are considered to be part of your income and not an asset like a tax refund.

or during the five - year period preceding the filing of the bankruptcy petition, the debtor was not enrolled in school and had a gross income of less than 200 percent of the official poverty guideline during each of those five years.

Bankruptcy laws require the woman to turn in any change of income to the bankruptcy court, or for that matter, any other kind of financial change that may occur during a ChapteBankruptcy laws require the woman to turn in any change of income to the bankruptcy court, or for that matter, any other kind of financial change that may occur during a Chaptebankruptcy court, or for that matter, any other kind of financial change that may occur during a Chapter 13 plan.

He is allowed to earn $ 2,152, so Joe is below the surplus limit, so he is not required to make any «surplus income» payments to the trustee during his bankruptcy.

If your disposable income during this period does not exceed your unsecured non-priority debts by 25 percent, you will «pass» the means test and generally be permitted to file for a Chapter 7 bankruptcy discharge.

During the bankruptcy you are required to complete your bankruptcy duties, and your trustee will calculate your surplus income payments.

If your income exceeds the government set threshold limit, you will be required to make surplus income payments during your bankruptcy.

Current monthly income is defined in 11 U.S.C. § 101 (10A) as the monthly average of the income received by the debtor (and the debtor's spouse in a joint case) during a defined six - month time period prior to the filing of the bankruptcy case.

Further, income and debt limitations exist related to the different forms of bankruptcy, and there are always risks of losing your property during bankruptcy.