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/Tag: Surplus Income

IF I Go BANKRUPT DO I LOSE MY CAR / HOUSE ?

This is a very common question we get as LITs (licensed insolvency trustees). Sometimes the question is “if I don’t get to keep my car (or house) this meeting is over” or a variation of this. So what’s the answer? The LIT’s responsibility, as the trustee of a bankruptcy, is to make sure you understand [...]

2019-09-20T23:21:42+00:00Bankruptcy|

Why Do I Have To Make Surplus Income Payments?

IF I CAN’T AFFORD MY VEHICLE AND HOUSE PAYMENTS - WHY DO I HAVE TO MAKE SURPLUS INCOME PAYMENTS?   Have you done some research about bankruptcy which says that you have to make payments to the trustee for surplus income but you don’t have enough income to make your vehicle and house payments?  It [...]

2019-09-20T23:21:49+00:00Bankruptcy|