Transaction Review 3 months or 1 year

August 31st, 2008 by Questions

How do trustees or creditors determine whether or the applicant should be reviewed for 3 months or 1 year? Do the creditors themselves do this review or is it the applicant who must present this evidence? Can the applicant know if they will check 3 months or 1 year?

Posted from: Ontario


One Response to “Transaction Review 3 months or 1 year”

, Barton Goth - Goth & Company Inc. - Bankruptcy Trustees said:

A trustee will automatically be provide with a 3 month listing and review this. If the trustee or the creditors have any concerns then they will go back further. In many cases this is limited to 12 months, in some cases it can go up to 5 years. In terms of whether or not the applicant will know, it is up to the trustee, the information is provided by the creditor so the applicant typically is not informed unless there is a problem that is uncovered.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)