Bankruptcy Calculator

Helping you calculate the cost to filing for bankruptcy

This calculator will give you a sense of what your monthly payments would be in a bankruptcy. 

Step 1: Enter the number of people in your family

Select Family Size (including yourself):

*Your Monthly Income Threshold is: $2,543

*The monthly income threshold defines the portion of your income that you are allowed to keep. Thresholds are set by the Superintendent of Bankruptcy and are based on your family size.

Step 2: Enter Your Monthly Family Income

Step 3: Enter Your Monthly Family Deductions

Calculate Surplus Income Payment

Monthly Surplus Income Payment=$0.00

The actual calculation for surplus income can be quite complicated and can affect the length of your bankruptcy.

The monthly amount is dedicated by the Bankruptcy and Insolvency Act.  Trustee’s do not have discretion in setting the calculation amount. 

These calculations become more complex when one spouse is filing and the other is not. For a full understanding of your financial situation, talking to a Licensed Insolvency Trustee is key as there may be certain expenses that change the calculation.

If your surplus income is more than you can afford each month, talk to us about a consumer proposal as a way to lower your monthly payments.