period of bankruptcy

I am going to have to file bankruptcy. How long do I have to pay surplus payments? If someone opposes the b ankruptcy, what is the longest period of time they can make me pay surplus?

Posted from: Ontario

One Response to “period of bankruptcy”

Barton Goth – Goth & Company Inc. – Bankruptcy Trustees said...

I am not in a position to estimate how long you will have to pay surplus without reviewing things in your situation in greater detail. So I would recommend you contact a local trustee to do so.

Having said that, if there is an opposition to a bankruptcy there is no maximum, the courts are capable of granting any order they want. However, at least in Alberta where I practice, normally what I find is that the court will ask for a total of 21 months (9 months during the normal bankruptcy period and an additional 12 months subsequent to that).