Early Discharge from Bankruptcy

Question: Hello I read in the Bankruptcy Act that there was an application you could submit to the Court for an early discharge ( Before the nine month period was up ) Is this True THx

Answer: Yes, it is possible to ask the court for an early discharge. However, in practice, it almost never happens, for a number of reasons.

First, the courts have a back log, so by the time they agree to hear your case the nine months may already be up.

Second, since everyone else is bankrupt for at least nine months, there would need to be a very good reason for the court to allow your bankrupt to end sooner.

A consumer proposal may be a better option if you want a faster procedure. Your trustee can give you more information.

Labels: bankruptcy discharge