New Surplus Income Limits for 2026
The government sets a limit on how much income you can keep before you have to make extra bankruptcy payments. This limit is updated each year. Learn more about this threshold.
Category: Bankruptcy Basics
Tag: Cost
What Does It Cost To File For Bankruptcy In Ontario?
We explain the three factors that affect how much you may have to pay to file bankruptcy in Ontario: income, assets and if you have filed before.
Category: Bankruptcy Basics
What Happens to My Wages When I File for Bankruptcy?
You keep your wages in a bankruptcy but your salary does come into play when calculating potential surplus income in a bankruptcy. Learn how your income is affected when filing bankruptcy in Canada.
Category: Bankruptcy Basics
Avoid The Surplus Income Penalty With A Consumer Proposal
Did you know there is a surplus income penalty in a bankruptcy if you make more than the ‘threshold’ income? Doug Hoyes explains how to calculate this and ways you can avoid a penalty all together.
Category: Consumer Proposals
The Consequences of Delaying Filing For Bankruptcy
Are you delaying bankruptcy because you’re scared of what it entails or what it may change in your life? Find out what can happen if you continue to delay the process and why you don’t need to be afraid.
Category: Bankruptcy Basics
Consumer Proposal Terms. How To Structure Your Debt Settlement Agreement
Learn how to structure your consumer proposal with flexible payment options. Understand key factors affecting terms and how a Licensed Insolvency Trustee can help.
Category: Consumer Proposals
Do You Have To Pay a Fee To File a Consumer Proposal?
A consumer proposal is an affordable way to eliminate overwhelming debt. Any fees are included as part of the proposal process. Doug Hoyes explains the costs of a consumer proposal and how payments are calculated to fit your budget.
Category: Consumer Proposals
What Percentage Should I Offer To Settle Debt?
Considering a debt settlement. In this post, we walk you through how to determine an affordable offer, the dos and don'ts of settling with your creditors, how to reduce debt by up to 80% and when working with an LIT is the right option.
Category: Debt Relief
Please Stop Paying for Consumer Proposal Representation
Should you pay for third party advice when seeking a consumer proposal? We explain what a consumer proposal administrator is and why you should work directly with a Licensed Insolvency Trustee for debt help.
Category: Consumer Proposals
How to Make a Consumer Proposal Budget That Works
If you're going to file for a consumer proposal, we make sure your proposal payments fit your budget. In this blog, find out how to determine if you can afford payments.
Category: Consumer Proposals
Negotiating Consumer Proposals. What Your Creditors Expect.
Do you want to learn more about the negotiation process involved in a consumer proposal? We'll explain what creditors might expect in a proposal based on internal policy and who does the negotiating.
Category: Consumer Proposals
Calculating Payments in a Consumer Proposal
When you file for a consumer proposal, you offer your creditors an amount for your proposal payments. In this blog, find out what factors affect this and 3 steps you can use to calculate your payment terms.
Category: Consumer Proposals
Why Surplus Income Is an Important Part Of Your Debt Recovery
To be discharged from a bankruptcy there are certain duties that need to be completed first, one of which may include surplus income payments. Find out what surplus income is and 5 reasons it’s important.
Category: Bankruptcy Basics
Consumer Proposal Help When Expecting Lump Sum Payments
Consumer proposals are a very flexible tool when it comes to debt settlement. If you receive a lump sum before or during a proposal, find out how this can impact your proposal terms.
Category: Consumer Proposals