Prepaid utility bills

November 27th, 2013 by Questions

I am expecting a refund from CRA when I file my next return. I am guessing I may get back about $3000. It looks like I will have to consider bankruptcy by April or May next year. If I used my refund and prepaid my power and phone bills for the year, would this affect my filing for bankruptcy?

Posted from: New Brunswick


One Response to “Prepaid utility bills”

, A licensed trustee said:

One of two things will likely happen if you do what you have suggested. Either (1) your trustee will contact the utility companies and ask for a refund of any/all prepaid amounts; or (2) your trustee will require you to make payments into your bankruptcy equal to the amount of your prepaid balances when you file. Sorry, but the system won’t allow you to do what you want to.

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