Is it really this easy?

September 5th, 2008 by Questions

After reading much advice on the blog I filed forbankruptcy on March 18 2008 based on a single debt of 80k to CRA that I could not possibly repay.

I paid the trustee $175/month for 9 months. I met her twice for a 15 minute session after filing.

At my last meeting 3 months ago she said `we do not have to meet again an you will be clear on December 18th`.

Thats it …. $80,000 in CRA debt and $2,000 in credit card debt plus a few stupid old debts for a total of $5,000 are now gone … clear and history?

Is the process really that painless and easy? I am still waiting for the pain and suffering or some surprise.

I am truly amazed if that is all there is to it.

By the way … this site was of immense help ..THANKS.

Posted from: Quebec


One Response to “Is it really this easy?”

, A licensed trustee said:

Well, I don’t know how to respond to that – the process itself is not very difficult and as long as you do the 3 or 4 things that are required of you it generally ends in 9 months and one day from the day you file (for bankruptcy). The most difficult part is usually the decision to call someone like me in the first place…

That being said, in your particular case, CRA has until Dec 15 to notify you, your trustee and the Office of the Superintendent of Bankruptcy if they intend to oppose your discharge. To “oppose” means they’d like a Court to review your file to determine whether or not you should receive a discharge, and if so, on what terms.

Depending on how you ran up your $80,000 tax debt you may or may not have your discharge opposed. I hope you receive an automatic discharge, but I wouldn’t count your chickens until they hatch…. say on Dec 19.

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.)