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Bankruptcy Question & Answer Forum - Canada


Author:

 

Anonymous

Date:

 

Dec 16, 2007

Question:

 

When you are currently in bankruptcy, do you have to declare all income, even if my parents borrow me approx 1,000.00 or more every month, or so to help me pay for my every day expenses. My net income is 2,400.oo, and the trustee takes 700.00 from me, and this makes it difficult to live on 2,400.00. Also, my parents bought a second house that I moved into, I only pay utilities. Would this be considered living with my parents, even if they own it, and I live separate from them. Thankyou



From:

 

Alger & Associates Inc.

Date:

 

Dec 17, 2007

Answer:

 

You should disclose the fact that you are receiving these funds to the Trustee. They would generally not be considered as income in your bankruptcy.

Vanessa Grant
phone: (403) 296-2977
vgrant@alger.ca



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