Surplus Income and Three Paydays

Category: Bankruptcy Q&A Leave a comment

Question: I was told that if I had 3 paydays in one month that I only needed to supply 2 of them to trustee?
Is that true?

Answer: No, that’s not true.

You are referring to the calculation of surplus income when you file bankruptcy in Canada.

Each month you are required to provide proof of all of your income to your trustee.  In higher income months, if you are over your surplus income limit you are required to pay more.  If you get paid bi-weekly, twice each year you have a three paycheque month, and during those months you are required to provide your trustee with all three paystubs.

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