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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Transferring out of Bankruptcy

Hello, first I want to thank you for providing all of us with such a great resource for answering our questions. My question is if declare bankruptcy and 6 months into it I get a a better paying job or have a relative offer to pay out 50% of what I own, can I get out of the bankruptcy and go into a proposal instead? Or will I be stuck into the bankruptcy?

Posted from: Ontario

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One Response to “Transferring out of Bankruptcy”

A licensed trustee said...

Certainly. You may offer your creditors a proposal at any time and if they accpet it and the Court approves it then your bankruptcy will be annulled (canceled). You may use your existing trustee or you may go and speak to some one else if for some reason you’d like some one else to handle the proposal.