2011-11-04
Hello, A first-time bankrupt is eligible for a discharge after 9 months (no surplus income) or 21 months (with surplus income). A second-time bankrupt is eligible for discharge after 24 months (no surplus) or 36 (with surplus). If your income increased during the course of the bankruptcy (or was higher than originally reported), it may cause your bankruptcy to be extended from 9 to 21 months assuming this is a first-time bankruptcy. The Trustee must notify the bankrupt, creditors and the Office of the Superintendent of Bankruptcy regarding this change. It is recommended that you contact your own Trustee for guidance on your specific issue. Brad Milne CIRP Brandon, Manitoba
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Bankruptcy Alternatives to Bankruptcy
Let’s review what a Consumer Proposal is, as well as the pros and cons of filing a Proposal, to help you determine if it’s the right solution for your unique situation.
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Bankruptcy Consumer Proposal
Losing your job can be frustrating and, even more so, managing your financial wellbeing while you’re unemployed. However, you can successfully navigate the situation with the right budgeting tips.
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Lifestyle Debt
Take a good, hard look at your financial situation to decide where to focus your efforts.
