period of bankruptcy
September 10th, 2008 by Questions
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”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
September 11, 2008 at 10:04 am, 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).