Bankruptcy Edmonton - Questions
Bankruptcy Question & Answer Forum - Edmonton
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Anonymous |
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July 7, 2008 |
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Hi.....does an undischarged bankruptcy EVER go away? I filed for bankruptcy in 2004, and was never able to pay the Trustees fees. I reopened my file with a windfall i received, and got too scared to continue when they demanded information on my house....I was afraid i'd lose it. I want to get rid of this thing now, but not at the expense of paying another 2400.00, which is what I had to do when they reopened my file. Can you help me?
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Karen, Alger & Associates Inc. |
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July 14, 2008 |
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The answer is simple - no it does not go away and sometimes the longer it goes the worse it gets - especially if you are gathering assets or building equity. The court will want a full reporting of your affairs since the date your discharge was adjourned. This would include, income, family obligations, assets, debts incurred, tax filings etc. The funds you are paying to re-open the file will usually be applied to any amounts required to complete the administration - a maximum of which would be 100 cents on the dollar to creditors plus 5 % interest(from the date of bankruptcy plus the Trustee's costs of administration.
Karen Rideout
phone: (780) 296-2973
If you wish to talk to one of the Edmonton bankruptcy professionals at Alger & Associates Inc., you can call us TOLL FREE from anywhere in Alberta at 310-8888. After hour appointments at our Edmonton bankruptcy offices are available.
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