Bankrupcty Court

March 22nd, 2010 by Questions

I went to bankrupcty court and the court gave me a 4 month suspension. What does this all mean? I completed all my duties what am I allowed to do under my suspension and what am I allow to do. It`s been along ride this whole ordeal has been. Please let me know what being under suspension means. By the way this web site is awesome.

Posted from: Ontario


One Response to “Bankrupcty Court”

, A licensed trustee said:

You know, you paid your trustee to handle your bankruptcy – they can easily answer this question for you if you give them a call…

A Suspecnded Order of Discharge means your bankruptcy hasn’t ended yet. So you still cannot serve as a director of a corporation, if you apply for credit over $1,000 you must disclose the fact that you are an undischarged bankrupt, and all of the other rules that you were told when you filed for bankruptcy still apply. Further if you were to come into some form of widfall during the suspension period (win the lottery or inherit some money) you are required to advise your trustee.

4 more months – you are almost done. Good for you.

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