Penalized for filing a second time?

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Rex

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Penalized for filing a second time?
« on: June 08, 2014, 11:45:44 AM »
We filed 20 years ago & were discharged & need to file again if we're not able to get a consumer proposal. Will we be penalized for filing again? We live in Ontario. What if any will the penalty be?

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NotATrust-E

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Re: Penalized for filing a second time?
« Reply #1 on: June 08, 2014, 03:04:19 PM »
There is only one penalty that is imposed for people filing for a second time, and that is that it will take you longer to get discharged.

If you do not have surplus income, you will be eligible for an automatic discharge in 24 months, and 36 months if you do have surplus income.

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Rex

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Re: Penalized for filing a second time?
« Reply #2 on: June 08, 2014, 03:18:03 PM »
Thank you for your help. What if you only have a few months of surplus, is it still 36 months, or even if you only have 2 months where you have surplus or is it any surplus regardless that it would then become 36 months?

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NotATrust-E

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Re: Penalized for filing a second time?
« Reply #3 on: June 08, 2014, 03:42:26 PM »
Surplus income is an average of your income throughout bankruptcy. In your case, an assessment would generally be done in the 23rd month to determine if you were in a surplus income situation during the previous months.

 

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