lost wages: Bankruptcy Alberta

Posted on Wednesday, November 29, 2006

I have been told that if I file for bankruptcy and later recieve back pay from workmans compensation for pain and suffering that the trustee has no right to these monies. My question is about loss of wages, if I recieve for lost wages do I get to keep these as well?

1 Comments:

At 11:17 AM, Barton Goth, GCO Inc. Bankruptcy Trustees said…

The trustee has a bit of discretion here. He can either consider this after acquired property that not exempt from seizure in a bankruptcy and must be turned over to the trustee in it’s entirety. Alternatively, your trustee may simply treat this as income that must be disclosed and that superintendent’s surplus guideline will have to be applied to (i.e. this may allow you to keep a portion of the proceeds for living expenses). For more information on this you should discuss this with a licensed trustee
And he will be able to provide you with a detailed explanation as to the reasoning behind each approach.