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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

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Can you revoke a bankruptcy filing?

Can one revoke their consent to bankruptcy filing within 48 hours of a decision to proceed? This is standard under Ontario consumer law.

Is there a minimum time that must pass before the trustee files?

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2 Responses to “Can you revoke a bankruptcy filing?”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

Revoking a bankruptcy is typically not an option, realistically, the only way it can be done is if your creditors can prove that the bankruptcy was based on fraudulent information.

A licensed trustee said...

In addition, most trustees file bankruptcies electronically; they do it immediately; they do not wait 48 hours before filing it. To go bankrupt you will typically meet with the trustee for an initial consultation, and then it takes a week or more to start the process, so during that time you have as much time as you need to consider your options before making a decision.