Surplus Income: Canada Debt .ca defines Surplus Income

Bankruptcy Term Surplus Income

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Canada Debt has the definition to the bankruptcy and debt term Surplus Income. Finding answers to terms such as Surplus Income can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Surplus Income in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Surplus Income' is used as follows:

Payments required, if any, to be made by a bankrupt to the trustee for distribution to creditors. The amount of the payment is fixed by the trustee, at the beginning of the bankruptcy, having regard to the standards established by the Superintendent and to the personal and family situation of the bankrupt. This amount is subject to change if there are material changes in the personal or family situation of the bankrupt, or if the official receiver so recommends.