Transferring out of Bankruptcy

September 14th, 2009 by Questions

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


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.

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