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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Conditonal Discharge

What happens when say your conditional is approaching and you can not meet your conditional payment date, because your finances have dropped.

Posted from: Nova Scotia

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One Response to “Conditonal Discharge”

A licensed trustee said...

A couple of things can happen…

– you should apply to the Court to have the Order Varied (changed) so that you can meet the new terms

– if you don’t want to return to Court you should be prepared for your trustee to close you file. This means you will not have completed your bankruptcy and so your creditors will be allowed to pursue you for the money you owe. In addition, you cannot file bankruptcy again – at some point you will have to meet the terms of the Court Order and return to Court to explain why it took longer than it should have.

This may sound harsh, but remember the first option I gave you was to return to Court now and ask that the Order be Varied so that you can meet the terms.

Call your trustee and explain what has happened and they may be able to assist you.