Bankruptcy in Canada

Questions — Fri, 26 Feb 2010 02:06:00 +0000

Question: My mother does no live in Newfoundland. She has a lot of debt. Can she come to Newfoundland to go bankrupt, or can she file somewhere else. How does bankruptcy Canada work?

Answer: She can file bankruptcy in Newfoundland if she lives in Newfoundland. If she lives somewhere else in Canada, she can file where she lives. If she does not live in Newfoundland, she should find a trustee where she lives to help her file personal bankruptcy in Canada.

Maximum Monthly income allowed in Bankruptcy in Newfoundland

Questions — Mon, 07 Sep 2009 14:39:00 +0000

Question: I am considering bankruptcy in Newfoundland as an absolute last option. I have two children and a girlfriend. I am curious what is the maximum amount my household is allowed to earn before we start losing 50% of the extra? I reside in St. John’s, NL and I have heard is is like $3600.00 per month before we start losing 50% of the extra income. Can you tell me the monthly maximum income allowed for a family of 4 in St. John’s, NL?

Answer: The surplus income limit in bankruptcy is the same in Newfoundland as it is in the rest of Canada. In 2009 a family of four is permitted to have net income of $3,474 per month. You then pay a penalty for half of the amount you are over that limit.

The calculation depends on a number of factors, so we suggest you contact a Newfoundland bankruptcy trustee for a no-charge initial consultation to review the calculation for you in more detail.

Bankruptcy St. John's Newfoundland and Labrador » bankruptcy Newfoundland

Bankruptcy in Canada

Maximum Monthly income allowed in Bankruptcy in Newfoundland