FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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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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change of mind ?

What if during the bankruptcy process ( before discharge ) , I change my mind and want to settle my debts on my own ?

Posted from: Ontario

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One Response to “change of mind ?”

A licensed trustee said...

I apologize, but I think you posted 3 or 4 different versions of this question – as rule, we delete them all when this happens, but yours is a question that isn’t asked very often so I’ve decided to respond to one of them.

Once you’ve file for bankruptcy there are really three ways to deal with it:

1) complete the bankruptcy – this is what the majority of people do (after all it’s why they filed)

2) you may file a proposal to creditors even after you have filed for bankruptcy. If the proposal is accepted then the bankruptcy is annulled (cancelled)

3) repay your debts in full and apply to the Court to have the bankruptcy annulled (this option is almost never used partially because there is no guarantee the Court will grant the annulment)

If you have already filed (and I suspect you have) you should go and sepak to your trustee – they will be familiar with all of these options and can suggest the one that makes the most sense for you.