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

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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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bankruptcy and local debtors in a small town

When filing for bankruptcy I include debtors/personal loans. Now I understand that you cannot pay them back while in bankruptcy. If I choose to pay them back I may do so after I am discharged? Also before going bankrupt or while I am in bankruptcy may I tell them when I am discharged I want to pay them back?
Thanks from
Totally stressed out

Posted from: Ontario

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One Response to “bankruptcy and local debtors in a small town”

A licensed trustee said...

The purpose of filing for bankruptcy is to obtain releif from your unsecured debts. Once you have been discharged you cannot be compelled to repay a debt that was discharged, but if you decide you are able to repay some/all of your debts you may do so.

I don’t know that I would go around telling people that “they’ll get there money” after you’re discharged – if I was one of your creditors I might report that fact to the Court and the Court might decide that you should pay everyone back…