December 18th, 2013 by Questions

if i filed for a bankruptcy can i cancel it before its discharge????

Posted from: Ontario


One Response to “Bankruptcy”

, A licensed trustee said:

There’s no easy/simple way to cancel a bankruptcy – that’s why most trustees make you take a few days to think about it, before they will let you file.

Here are your options:
1) hire a lawyer to bring a motion before the Court to have your bankruptcy annulled. You will need to prove that either (a) you were not insolvent when you filed, or (b) your debts have been repaid in full.

2) file a consumer proposal – once it is accepted by your creditors and approved by the Court your bankruptcy will be automatically annulled.

You should discuss this with the trustee handling your bankruptcy. If for some reason, you no longer want to deal with your current trustee, you may use a different trustee to file the proposal.

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