Free Consultation

Exact amount owing to creditors

When I file for bankruptcy, do I simply give the trustee the creditors name and approx amount owing ?
Does the amount owing HAVE TO be exact or is it enough simply to state that this is the creditor and this is the approx amt owing. Do I have to worry that I actually owe $5675 or can I simply state that I owe approx $5500… to the best of my knowledge ?


Posted from: Ontario

One Response to “Exact amount owing to creditors”

Barton Goth – Goth & Company Inc. – Bankruptcy Trustees said...

There is no need for you to be exact with the numbers you provide the trustee. Approximate values are sufficient and it will be up to the creditors to demonstrate how much is owing as of the date you file bankruptcy.