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Alger Bankruptcy Services


Same team, new name

Alger & Associates personal bankruptcy services are
now provided by
Grant Thornton Alger Inc.

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Edmonton, Calgary bankruptcy Q&A forum

Author:

 

Question:

 

Hello, My understanding is that you are exempt 2K a month in wages. What's the formula for payments to the trustee if you make more than that? Half of everything over the 2K limit? Thanks.



From:

 

Alger & Associates Inc.

Date:

 

Sep 11, 2013

Answer:

 

Hello The exempt amount for a single person based on the Superintendent of Bankruptcy's guideline on income is $2006 of take home pay ie after tax. If a single person makes more than $2006 take home per month, the amount above $2006 is referred to as Surplus income. The payment required is 50% or half of the surplus for 21 months for a first time bankrupt. The payment period is extended to 36 months for a second time bankrupt. Thanks for the question. If you have any further questions please contact me.

Marie Kozlowski
T 403-296-3082
Marie.Kozlowski@ca.gt.com

 

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