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
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.
Log in to Reply
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.