bankrupt

April 13th, 2010 by Questions

We are in our final stages of bankruptcy…..we were given `notice of intended opposition to discharge of bankrupt` So what does this mean?

Posted from: Northwest Territories

Questions

One Response to “bankrupt”



April 14, 2010 at 6:58 am, A licensed trustee said:

It means that there is some aspect of your bankruptcy that requires the Court to determine whether or not you may be discharged.

The most common reason for one of these hearings is that the bankrupt (in this case you) have failed to complete all of their required duties, or if you have completed them, they weren’t done in the required times. I can’t stress this enough for the other people reading this blog – bankruptcy law will get you relief from your debts, but only if you do all the things you are requiredto do when you are required to do the. If you don’t you may end up in Court and the Court takes a pretty dim view of people that do what they are supposed to do…

If you did do everything right then perhaps a creditor or the government has requested the hearing. These types of oppositions don’t occur all that often (maybe 1 in 100 files), but it is possible.

The best thing to do is call your trustee and ask them why the hearing has been scheduled.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)