January 12th, 2013 by Questions
what happens if I don’t pay my bankruptcy settlement..
Posted from: Newfoundland and Labrador
January 12, 2013 at 8:01 pm, A licensed trustee said:
If you don’t pay you won’t be discharged from bankruptcy or your debts. Your trustee will close the file and all of your creditors’ rights will be re-instated. That means they can garnishee your wages, seize assets, do whatever the law allows them to do. You do not have the right to refile for bankruptcy so there’s no way to stop any of these things once your trustee closes their file…
If you scroll through the thousands of questions we have answered, you will find many examples of people that decide years later that they need to be discharged after all – in every case it costs a lot more money and involves asking a Court to release them – it is not a pleasant thing to live through.
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