68 - Windfall and Income During Bankruptcy
Play • 19 min

A financial windfall is any unexpected amount of money you receive. Whether it be from a lottery win or an inheritance - it’s the things we dream about. But what happens when you receive an unexpected windfall when you have filed for Bankruptcy? Today’s podcast features Daniel Masymchak, Licensed Insolvency Trustee answering questions about windfalls and surplus income while in Bankruptcy. 

  • What happens to windfall money when you are in Bankruptcy and then when you have been discharged?
  • What is surplus income and how is it calculated?
  • How does Bankruptcy affect your credit score?
  • Who goes bankrupt and why?
  • How long does Bankruptcy last?

Choosing a debt advisor is an important step in your debt recovery. Licensed Insolvency Trustees provide guidance on how to resolve your debts. They are the only federally regulated debt advisors in Canada. 

About Daniel Maksymchak

Daniel has worked in the bankruptcy and insolvency field since 2010. His career began in accounting, receiving his Chartered Accountant designation in 2009. He attained his Licensed Insolvency Trustee accreditation in 2014. 

Daniel is a member of the Canadian Association of Insolvency and Restructuring Professional (CAIRP) and has volunteered his time with numerous causes in the community. 

Additional Resources 

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