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Nova Scotia bankruptcy Q&A forum

Question:

 

How old does a loan have to be before i can include it in a bankruptcy. Ie: 1 month, 3 months, 1 year?



From:

 


Grant Thornton Limited

Date:

 

May 03, 2017

Answer:

 

Hi Sarah:Thank you for resubmitting your question.All liabilities are to be shown or included when filing a bankruptcy. If debt is taken out on the eve of bankruptcy of shortly prior to filing a bankruptcy, the lender could apply to the court to allow them to collect outside of the bankruptcy due to the timing. There are certain debts that do have special law set up around them, that may survive a bankruptcy filing as well.If you have any further questions, I encourage you to call our toll free number, 310-6060 and we would be happy to assist you.

Grant Thornton Limited
T 310-6060
askanexpert@ca.gt.com

 

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