Bankruptcy Timeline​

If this is your first time filing for bankruptcy and you have no Surplus Income requirements?

What is the Bankruptcy Timeline?

If this is your first time filing for bankruptcy and you have no Surplus Income requirements, you will be automatically discharged nine (9) months after the date when you filed the bankruptcy.

If you are required to pay Surplus Income (monthly payments as calculated by the trustee, using the formula set by the Office of the Superintendent of Bankruptcy), payments are required for 21 months and you will be automatically discharged from bankruptcy at the end of that time.

If this is your second bankruptcy you will be automatically discharged after 24 months, or after 36 months if the trustee calculates that you are required to make Surplus Income payments.

NOTE: The above lengths of bankruptcy are also minimums. If you have not fulfilled your duties with the trustee, or you disagree with the trustee about those duties, the Trustee may oppose your discharge. IF a creditor wants to bring its position before the court, they may also file an opposition, and you will remain undischarged until the issues are resolved.

Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.

Schedule a FREE Consultation

If you have any questions or would like to chat with us about our Consumer Proposal solutions, then simply contact us by clicking below.

Let's Get Started

Ross Taylor
Ross Taylor
Google Reviews
Read More
I have been referring my clients to Carl and Jordan Rumanek for more than ten years and I am proud to know them and respect very much their values and the services they provide. There are no bad questions with Rumanek and Company - and they work hard to find a balanced solution that benefits both the creditors and the debtor. Jordan has taught me a great deal about the insolvency business!
Sharon Maxwell
Sharon Maxwell
Google Reviews
Read More
I am so grateful to Jordan Rumanek for the time and effort he put in to solving my bankruptcy problem. He worked well with me and my lawyer, recognized the problem and had a solution, and communicated promptly. Things were settled in a very timely manner. I would highly recommend him!
Michael Fazari
Michael Fazari
Google Reviews
Read More
Jordan of Rumanek & Company Ltd helped me through my default and had my bankruptcy discharged extremely quickly. The staff were knowledgeable and were beyond accommodating to my needs. I applaud all of the staff at Rumanek & Company and the way they go above and beyond to help their clients.
Sam Velarde
Sam Velarde
Google Reviews
Read More
Jordan Rumanek of Rumanek & Company Ltd has helped me through a difficult time in my life. The staff have gone beyond the call of duty. I appreciate all the staff at Rumanek & Company and the way they treat me. I would recommend them to anyone with financial problems.
Todd H
Todd H
Google Reviews
Read More
Jordan and his team took extremely good care of me from start to finish. They explained everything with great detail and dealt with everything in an efficient and professional manner. I would highly recommend them should you ever need assistance with a consumer proposal or bankruptcy.
Previous
Next