Comments on: New Surplus Income Limits for 2024 https://www.hoyes.com/blog/new-surplus-income-limits-for-2024/ Hoyes, Michalos & Associates Inc. | Ontario Licensed Insolvency Trustees Tue, 26 Mar 2024 20:29:02 +0000 hourly 1 https://wordpress.org/?v=6.5.3 By: J. Douglas Hoyes, CA, Trustee https://www.hoyes.com/blog/new-surplus-income-limits-for-2024/#comment-272 Sat, 13 Jun 2015 12:46:43 +0000 http://hoyes.com/blog/?p=1581#comment-272 In reply to Krista M..

Hi Krista. This is a question you should ask your trustee, since they are the ones doing the calculation when you submit your monthly income.

At Hoyes Michalos we adjust the number every year, so for us if you are bankrupt in 2015, we use the 2015 surplus income limits, regardless of the year you filed bankruptcy.

]]> By: Krista M. https://www.hoyes.com/blog/new-surplus-income-limits-for-2024/#comment-271 Wed, 10 Jun 2015 17:48:02 +0000 http://hoyes.com/blog/?p=1581#comment-271 If I declared bankruptcy in 2014, should I continue doing my monthly income/expense statements with the previous superintendent’s amount, or will the new 2015 surplus income limits now apply to me? For instance, when I declared bankruptcy, as a family of four we were allowed $3743, which is the figure I have used to calculate surplus income. Now the limit for a family of four has been raised to $3831, should I use this figure when preparing my monthly statements? Also, if the answer is yes, when did those figures become effective? I have been using the $3743 number since January 2015, but should I have been using the $3831 amount for the past five months instead? Thanks for your help!

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