2025-09-29
Five essential steps to a better budget
Lifestyle Debt
A clear, realistic budget can help you reach your goals faster. Learn five practical steps to take control of your finances and spend with confidence.
What Happens When Income Increases During The Course Of A Bankruptcy
2011-11-04
Hello, A first-time bankrupt is eligible for a discharge after 9 months (no surplus income) or 21 months (with surplus income). A second-time bankrupt is eligible for discharge after 24 months (no surplus) or 36 (with surplus). If your income increased during the course of the bankruptcy (or was higher than originally reported), it may cause your bankruptcy to be extended from 9 to 21 months assuming this is a first-time bankruptcy. The Trustee must notify the bankrupt, creditors and the Office of the Superintendent of Bankruptcy regarding this change. It is recommended that you contact your own Trustee for guidance on your specific issue. Brad Milne CIRP Brandon, Manitoba
Latest Blog Posts
2025-09-26
Is some debt good for my company?
Lifestyle Debt Debt Solutions
Whether operating a small business, or large enterprise, there is a lot at stake for Canadian entrepreneurs.
2025-09-25
How Will Bankruptcy Affect My Retirement Income And Investments
If you are retired and have a large debt load, you may be considering filing for bankruptcy. You may also be wondering, however, what will happen to your retirement income and investments if you declare bankruptcy.
