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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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Annullment of Bankruptcy

I originally saw a trustee to have a Consumer Proposal initiated because I could not get my Student Loan Collectors to give me reasonable payment amounts. The Bank Risk portion threatened to garnish my wages. The Trustee recommended that I claim Bankruptcy instead. My only debts are Federal, Provincial and Bank Risk portions of Student Loans and I am only 8 years out of school. I received a letter stating that the Bank Risk portion will not survive the Bankruptcy. This portion is the reason I went for Bankruptcy. I am repaying for an RESP to the trustee but now I am upset because in 9 months from now I will owe the same amount of debt as before the filing. Can a Bankruptcy be stopped? Can I have my repayments refunded to me?

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One Response to “Annullment of Bankruptcy”

Barton Goth GCO Bankruptcy Trustees said...

You can contact your Trustee about this, but the annulment of a bankruptcy is exceptionally rare. The only situaitons I have seen an annulment done in are if you were not legally eligible to file a bankruptcy and if the annulment was done immediately after the bankrutpcy is filed.