second bankruptcy, can we reverse it

August 16th, 2008 by Questions

my husband and i went bankrupt in jan.2003 but the problem it is his second bankruptcy, can we reverse this bankrupt by paying off all our debt or it is already too long

Posted from: Ontario

Questions

One Response to “second bankruptcy, can we reverse it”



August 18, 2008 at 6:23 am, A licensed trustee said:

Unfortunately only the Court may make that decision. As a second time bankrupt your spouse should have been required to appear in Court in order to obtain his discharge – from your comments I am guesing that he didn’t (or at least hasn’t yet).

In order for teh bankruptcy to be annulled (cancelled) all of your debts must be repaid in full, but that doesn’t guarantee the Court will annul it. When you filed you needed the protection and you’ve failed to complete all of your duties properly so I honestly don’t know if the Court will allow the bankrutpcy to be removed from your record.

You may either go to Court first and ask (before you repay the debts) in which case you’ll know for certain that the Court will allow you to do this (of course the Court may say no). OR you can repay the debt first which might impress the Court (increasijg your chances of them saying yes to your request to cancel – of course they might say no anyway…

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