2025-08-25
Owe the CRA money? Steps to help you get back on track
Owing the government money can be very intimidating as it's assumed the government has a limitless ability to collect the debt through any means necessary.
Payments To Trustee
2011-04-06
The Office of the Superintendent of Bankruptcy has set minimum standards for surplus income payments to be made to the Trustee. These payments depending primarily on the net family income, number of persons in the family unit and certain non-discretionary expenses.Assuming there are no non-discretionary expenses for a first-time bankrupt whose income is $3,450 per month and who has 2 dependents would be required to make 21 monthly surplus income payments of $251. A second time bankrupt would be required to make the payments for 36 months. The surplus income payments do not include any additional amount that may be required to repurchase the equity in any non-exempt assets. In order to your discuss your situation in more detail, please contact one of our offices to set up a no cost, no obligation consultation. A listing of our Ontario offices can be foundhere. Marvin Zweig, CA, CIRP, Trustee Markham, Ontario
Latest Blog Posts
2025-08-14
How to budget for summer vacation
Vacation costs can add up quickly without proper planning. This guide can help you budget so that you can make the most of your trip without overspending.
2025-08-05
How to budget when you’re unemployed
Bankruptcy Consumer Proposal
Losing your job can be frustrating and, even more so, managing your financial wellbeing while you’re unemployed. However, you can successfully navigate the situation with the right budgeting tips.
- First steps to take when you become unemployed
- Managing your expenses
- Seeking professional help
