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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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Duration of Bankruptcy

If you abide by all the rules and requirements when you are bankrupt, you should be discharged after 9 months, for a FIRST time bankruptcy.

Is there any reason a creditor (Rev Can inclusive) will dispute the discharge ?
Assuming there is no cause other than the creditor wants to prove a point and use you as an example of what happens when you file for bankruptcy.

Can that happen ? Has this happened ?
You go to court and the court thows out the case, for an extension past 9 months ?

Posted from: Ontario

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One Response to “Duration of Bankruptcy”

Barton Goth GCO Bankruptcy Trustees said...

Any creditor always has the right to oppose a bankruptcy, the question is whether or not the court will consider the opposition. As the court doesn’t like creditors simply wasting time with frivilous oppositions we find that if a creditor is going to oppose it usually is for good reasons (at least in the courts eyes). So if there is an opposition likely there will be terms given that must be fulfilled prior to discharge (i.e. payments, expiry of a certain time period etc.).

As for the reasons, they can be quite varied (i.e. majority of debt is tax debt, debtor’s rash behavior contributed to the filing of a bankruptcy, history of questionable/fraudulent activity, debtor not acting in good faith etc.).