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mr

Does the trustee have to sign off with the federal government, once the bankrupst is discharged and the trustee has been fully paid in order for the citizen to recieve their gst/hst cheques. I was discharged on jan. 20th 2012. is their not a certain time limit for the trustee to do so. . What are the time criteria for them to do so, and if, they are tardy, why should the public be made to wait, especially when so many nmof us desperatly need it. The trustee has been paid, thus end the service. is their penalties for trustees. Yours truly, a poor concerened canadian.

Posted from: British Columbia

One Response to “mr”

A licensed trustee said...

Once the administration of the bankruptcy has been completed, your trustee will prepare a Statement of Receipts and Disbursements that will be circulated to yourself, your creditors and the government. If after 30 days no one expresses any concerns, your trustee will take the next steps to close the file – it usually takes a couple of additional months.

Unfortunately, your discharge in January is only one small part of what your trustee is required to do in order to close your file. In most cases, your trustee has to wait until they receive a copy of your 2011 Notice of Assessment from your tax return. Our offices are only just starting to receive the Notices for our clients – I suspect your trustee is still wating for yours… Once they have it, add 3 to 6 months for the paperwork.

If your bankruptcy is still open after 3 years for no “good reason” your trustee may be penalized. Since trustees dfon’t get paid until your bankrutpcy is closed this doesn’t happen very often…