MNP Limited Trois-Rivières, QC Licensed Insolvency Trustee

MNP Limited, 450-233-0586
1413 boul. des Forges, Bureau 202, Trois-Rivières, QC, G8Z 1T7


There are many details related to Canada’s bankruptcy process that may seem simple to you at the outset but can turn complex as the process unfolds.


Talk to our Licensed Insolvency Trustee at Trois-Rivières in QC, if you are worried about your finances during a bankruptcy.


Our Licensed Insolvency Trustee (LIT) is adept at simplifying even the most complex details of bankruptcy.


With our Trois-Rivières, QC, Licensed Insolvency Trustee, to guide you, you get to grasp legal details of bankruptcy easily, which enables you to make well-informed decisions at every step.



MNP Limited Trois-Rivières, QC Licensed Insolvency Trustee

1413 boul. des Forges
Bureau 202,
Trois-Rivières, QC G8Z 1T7
Phone: 450-233-0586


The LIT delves deep into your debt situation to understand the impact of BIA – the Bankruptcy and Insolvency Act –on your finances.


As a financial and legal expert, the LIT reviews your debt profile from all angles to come up with the best solutions at every step of bankruptcy.


As a result, the consequences that you may have to face after a bankruptcy are minimize.


Licensed Insolvency Help in Trois-Rivières


If you are worried about your surplus income being seized following a bankruptcy, then our Licensed Insolvency Trustee in Trois-Rivières QC, will explain the intricacies and expel your doubts.


The bankruptcy trustee will go through your monthly income and expenditure details to find out if you have any surplus income.


Surplus income is used by Canada’s bankruptcy law as a means to identify debtors belonging to a higher income group.


Surplus Income Requirement


Presence of surplus income indicates that the debtor can pay more toward debt settlement.


The OSB (government’s bankruptcy division) sets a standard for a bankrupt’s income.


If your income is more than the standard, then you have surplus income.


Usually 50% of your surplus income will have to be paid on a monthly basis during bankruptcy.


The standard limit for surplus income is revised on a yearly basis.


The standard is calculated based on not only your income but also the number of family members.


For example, the income standard stipulated for a family unit consisting of 2 members is currently $2, 793.


Presence of surplus income will also impact your discharge timing – the time by which you will be free of bankruptcy and your debts.


For example, if you are filing for bankruptcy for the first time, and you do not have any surplus income, then your discharge timing is 9 months from the day of filing.


In contrast, if you have surplus income, the timing is 21 months post filing.


The Licensed Insolvency Trustee of Trois-Rivières, QC, will take all the above factors into account while calculating your surplus income.


In addition, the trustee will also consider your expenses.


Some expenses such as medical and child care are considered “non-discretionary”, and can reduce your income calculation, which can bring your income below the surplus income threshold.


So, you may not have any surplus income to pay in the first place.


It is therefore important to disclose all your income and expenses to our trustee.


With accurate information, the trustee will be able to provide the best solution that will minimize your debt risks.


Consult our Licensed Insolvency Trustee at our Trois-Rivières, QC office today for more information on surplus income and bankruptcy – your first consultation is free.



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