If, after my second meeting with my trustee, he concludes that I must file for bankruptcy for 21 months because my income is higher than the threshold for a family of 5-6 people, and if during that time we lose a job and fall below that threshold, what will happen? Will we be discharged? I admit I'm quite worried because my partner only has a job for 150 hours. After that, nothing.
In practice, the trustee may consider your income up to the end of the 9 months if you believe it could change the duration of your bankruptcy, but you will need to talk to him about it a little beforehand.
Questions reliées
- After the settlement offer is accepted, will I be able to continue operating my incorporated event planning company without any problems? I took out a $40,000 loan from the government hoping things would return to normal. However, I will likely be unable to repay it by January 1, 2222.
- Can I go bankrupt if I work?
- Hello, I declared bankruptcy last month. I had a surplus salary, so I was paying $344 per month. However, I recently lost my job indefinitely. I contacted my trustee, and my monthly payment was reduced to $225. Is it normal that I'm still paying the surplus even though my income has been cut almost in half?
- How long after declaring personal bankruptcy can I incorporate?
- I am a co-owner of a company (2 people). We are drowning in debt and considering bankruptcy. Since we personally guaranteed some of the company's loans and credit cards, I imagine we will be responsible for repaying these debts? If my partner becomes insolvent, would I be held liable for all of these debts (guarantees)? Would it be better for us to file for personal bankruptcy after the company goes bankrupt?