• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Phone: (604) 605-3335  Toll Free: (888) 850-6585

 

 

Boale, Wood and Company

Boale, Wood and Company

Licensed Insolvency Trustee

  • Our Company
    • Why Use Us
    • David Wood
  • Solutions
    • Personal Solutions
      • Alternatives to Bankruptcy
      • Consumer Proposal
      • Consumer Proposal vs. Debt Management Program
      • Division 1 Proposal
      • Personal Bankruptcy
      • Proposal Comparison
    • Corporate Solutions
      • Bankruptcy
      • Debt Restructuring
      • Informal Workouts
      • Creditor Proposal
      • Receiverships
      • Liquidator Strata Wind Ups
      • Court Appointed Administrators
  • Resources
    • Forms
    • Newsletter
      • Newsletter Archive
    • Social Media
    • Media
    • FAQ
    • Articles
    • CAIRP
    • Privacy Policy
  • Blog
  • Ask a Trustee
    • Submit your Question
  • Contact Us
    • Free Initial Consultation
    • Vancouver Office
    • Surrey Office
    • Yukon Territory

Can Bankruptcy be Cancelled?

January 20, 2013 by David Wood

I have declared bankruptcy and I am having a change of heart.  Can I have my bankruptcy cancelled?

A bankruptcy cannot be cancelled.  Once it has started, it must be followed through.  A bankruptcy can be annulled though.

The most common way in which a bankruptcy is annulled is by filing a consumer or Division I proposal to address the debts in the bankruptcy.  Once the proposal is accepted by the creditors and deemed approved by the Court, the bankruptcy is considered to be annulled.  However, one word of caution is never enter into a repayment program you cannot keep only to avoid a bankruptcy.

A bankruptcy can be annulled in cases only where the Court believes the bankruptcy should not have been filed.  This requires a Court application.  In general, a bankruptcy cannot be cancelled, except by the filing and acceptance of a consumer or Division I proposal.

Ask a Trustee

If you have something you’d like to Ask a Trustee, use this form to submit your question.

And follow @askatrustee on Twitter

Ask A Trustee,  Blog annulled,  cancel

Primary Sidebar

Call Us Now

Phone: (604) 605-3335
Toll Free: (888) 850-6585
or use the Contact Form

We have offices located in Vancouver and Surrey.  We also provide services to residents and businesses in the Yukon Territory.

 

Looking for Forms?

We have a number of forms available for download here.

Footer

  • Email
  • Facebook
  • LinkedIn
  • Twitter