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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bankruptcy

I have an $600 per month surplus and considered filing bankruptcy about a year ago but didn`t. Now, I think I have to.

With the Sept. 18 new laws, the period of being undischarged went up from 9 to 21 months. Can you tell me, with my income surplus, whether even a year ago I would still have been subjected to the 21 month rule? I am reading conflicting information on this.

Posted from: Ontario

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One Response to “bankruptcy”

A licensed trustee said...

You know, this second guessing yourself is not a useful exercise. It is too late to use the old rules – so why put yourself through this?

Whether or not your bankruptcy would have been extended under the old rules depended on which trustee firm you wereusing. Not all trustees extended due to surplus and that is one of the primary reasosn that 21 months is now mandatory if you have surplus.