Bankruptcy Canada - Credit Card Debt

Bankruptcy Canada Questions & Answers

Author:		Anonymous
Date:		Dec 4, 2008
Question:		Hi there, I have a debt of around 90,000- dollars from credit cards and line of credits. I cannot pay back, I am the only earning member of a family of 5. If during my bankruptcy my wife would like to start a job to help the family be stable, will her earning will be considered a part of family income and subject to deduction or payment by the trustee? I believe for a family two adults and three kids, if my earnings are beyond 3800 dollars I have to pay whatever is higher than the said amount. Regards.
From:		Karen Alger & Associates Inc. - Alberta Bankruptcy Trustee
Date:		Dec 4, 2008
Answer:		Her income is not required to be reported, however she is not considered a dependant any longer and your allowable exemption is thereby reduced to $3413. Karen Rideout phone: (403) 296-2973 Alberta Bankruptcy