FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Comments

This field is for validation purposes and should be left unchanged.

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*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.

This field is hidden when viewing the form

Source

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.

Agreement*

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.

Select Trustee By Province

Time Lapse in Protection from Creditors?

Once you’ve met with a trustee and you’ve signed all the documents for bankruptcy, do creditors have a certain time period whereby they can still take money out of your bank accounts to cover credit card debts before creditors are ‘stayed’? If so, how much time do they have?

Thank you.

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “Time Lapse in Protection from Creditors?”

Barton Goth GCO Bankruptcy Trustees said...

Technically speaking the creditors are stayed immediately upon filing the bankruptcy documents (the ones you signed) with the Official Receiver. This means that the creditor are prevented from taking any action.

The filing of these documents is done electronically by the trustee’s office and typically is done within a day of you signing up (some offices may be a little longer some may be a little shorter)

If you have filed your documents and are still having trouble wiith a creditor you should call you trustee and they will contact the offending creditor and take the necessary steps to resolve things.