How to Stop CRA Garnishment After Receiving an RTP Demand Payment Letter

Ever felt the stress of unexpected financial setbacks? How to stop CRA garnishment is a question many Canadians face when dealing with debt issues and a RTP (Requirement To Pay) from the Government of Canada. Understanding the steps to halt this process can alleviate a significant amount of stress and help you regain control over […]

How Many Times Can You Do A Consumer Proposal

Ever felt like you’re stuck in a financial maze with no exit in sight? Debt can weigh you down, making every day feel like an uphill battle. But what if there’s a way to reset and start fresh? How many times can you do a consumer proposal? The straightforward answer is that you can file […]

Who Can Put a Lien on Your House in Canada?

Liens can significantly impact property ownership in Canada, often catching homeowners off guard. Understanding liens—what they are, the types that exist, and who can place them on your property—is crucial for any homeowner. This article unpacks the complexities of liens, explores potential lien holders, and discusses the consequences they can have on property sales. It […]

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Is there a way to withdraw or annul my bankruptcy?

I have been in bankruptcy for 2.5 months and I am having second thought’s. This is my second time filing. Also I am unemployed and cannot keep up with the monthly payments that I need to give to the trustee. Is there a way to annul or withdraw my bankruptcy? if so, how?

Posted from: Alberta

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One Response to “Is there a way to withdraw or annul my bankruptcy?”

Desmond West-Chow, CIRP said...

There are essentially two ways to no longer be in bankruptcy. One is to get your discharge through the normal course of the bankruptcy proceeding. The second is to annul to annul the bankruptcy by filing a consumer proposal. In order to file a consumer proposal, cash flow is a very important consideration and must be consistent for the full proposal. If you’re currently not working and having a tough time keeping up with the bankruptcy payments, this may also prove to be a challenge in the proposal. Give your current trustee a call to discuss your options.