stature of litations
December 31st, 2010 by Questions
is there a stature of limitations on bankruptcy. i started the process almost 7 yres ago. so after 7 yrs does it just dissapear?
Posted from: Alberta
One Response to “stature of litations”
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January 01, 2011 at 8:28 am, A licensed trustee said:
There is no statute of limitations or expiration date on a bankruptcy. You remain an undischarged bankrupt until you are discharged either automatically by your trustee (if you qualify) or by a Court Order.
Bankruptcy is a legal procedure that individuals apply for to find relief from their debts. If you don’t perform all of your duties properly then you will not be discharged – in other words the bankruptcy remains unfinished.
You have the right to apply to the Court to have your bankurptcy annulled. In order for a Court to do this you will need to prove that you have repaid the debt in full or you didn’t actually qualify to file bankruptcy in the first place.