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Surplus income for a 3rd time Bankrupt

A third time bankrupt with surplus income, would the Bankruptcy term be 36 months?

Posted from: British Columbia

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One Response to “Surplus income for a 3rd time Bankrupt”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

A third time bankruptcy has a great deal of uncertainty with it as it is really up to the court. As the court will ultimately make the final decision I can say this, if you have surplus income you can expect that the bankruptcy will be a minimum of 36 months. But it is possible that the court could choose to extend it, or even refuse to give a discharge entirely. I would suggest you consult with a local trustee to review what you can expect from your local courts, and where ever possible I would strongly suggest you consider the filing of aconsumer proposal as it will reduce a great deal of the potential uncertainty involved.