Tag: About Bankruptcy

Do I have to go to bankruptcy court if I claim Bankruptcy

Each jurisdiction has its own bankruptcy court, and each court has its own requirements for when and whether a bankrupt must attend court if claim bankrupt. In the Toronto area, bankrupts usually only go to court in the following situations:

• They have filed three or more bankruptcies
• They owe more than $200,000 in income tax
• They have not completed their duties or have disagreed with their Trustee with respect to those duties
• The Trustee has opposed the discharge due to conduct either before or during the bankruptcy which should be brought to the attention of the court
• It is important to note that Bankruptcy Court is very respectful, and bankrupts are not looked down upon or judged for their misfortune. There may sometimes be hard questions to answer, but each person has their opportunity to speak, if they so choose. Most people find court to be much smoother than expected.

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.