A BANKRUPTCY PROVIDES IMMEDIATE PROTECTION FROM CREDITORS
EVERY BANKRUPT MUST PERFORM CERTAIN MANDATORY DUTIES
If one does not perform or neglects their duties, they remain in bankruptcy and if these deficiencies are not corrected prior to their discharge application, their bankruptcy protection can be canceled and their creditors’ rights reinstated.
WHAT ARE ONE’S DUTIES IN A BANKRUPTCY
A Bankrupt must:
1. Disclose and deliver their non-exempt property to the Trustee;
2. Make oneself available and, if requested, attend a meeting of their creditors;
3. Attend two financial counselling sessions;
4. Complete and submit Monthly Income and Expense Statements for review by their Trustee throughout the period of bankruptcy:
5. Report, calculate and, depending on the number of people in their family, remit or
contribute a portion of one’s monthly income to their bankruptcy estate for distribution to
6. Assemble and submit all tax information to the Trustee so they can file your taxes.