Can I Cancel My Personal Bankruptcy in Toronto, Ontario?

Posted in Bankruptcy, Debt, Finances, Videos | Comments Off on Can I Cancel My Personal Bankruptcy in Toronto, Ontario?

Sometimes I get asked by people who have recently filed personal bankruptcy whether or not they can cancel their personal bankruptcy in Ontario. Perhaps they have changed their mind and are wondering if their bankruptcy can be canceled?

The short answer is no, the bankruptcy cannot be canceled once it’s filed in the courts and the federal government has issued a number. It’s an official legal process and it’s not going to be canceled outright.

There are different ways to end a bankruptcy and there are ways that a personal bankruptcy in Ontario can be annulled and canceled in a legal way. However, you cannot just change your mind and decide “I want my bankruptcy canceled”. The legal system in place does not work that way.

One of the main reasons you sit down with a Licensed Insolvency Trustee is to go over all your options for debt relief. Usually, personal bankruptcy is the last option considered for debt relief, however, should bankruptcy option be chosen by the consumer, it was likely the best option at the time considering all factors.

Should your circumstances change after filing and you would like to reconsider your options, one of our Trustees would welcome an opportunity to discuss your options.

We can meet with you during business hours or book after hours appointments if that is more convenient for you. Contact us at (888) 545-5365.

Contact Richard Killen
FREE No Commitment Consultation

Recent Blog Posts

• Debt Consolidation vs Consumer Proposal: Understanding Your Debt Relief Options
• How to Get Tax Debt Relief in Canada - Step-by-Step Guide
• Understanding Voluntary Car Surrender in Canada: What You Need to Know
• Debt Consolidation For Car Loans - Can It Help?
• Getting a Secured Credit Card to Restore Your Credit Rating