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Bankruptcy Question & Answer Forum - Canada


Author:

 

Mike T

Date:

 

August 17, 2005

Question:

 

What if I filed bankruptcy then got an outstanding debt?



From:

 

Bruce, Alger & Associates Inc.

Date:

 

August 19, 2005

Answer:

 

Bankruptcy deals only with those debts as of the date of filing. Debts incurred after filing are to be repaid in accordance with the credit terms extended to you. If you incur more debt after the date of bankruptcy and it is over $500, you have a duty to inform your creditor that you are an undischarged bankrupt. Also, if you incur debt while in bankruptcy and it not repaid in accordance with the credit terms, this could be a matter of conduct to be brought up at any application for your discharge from bankruptcy.

Bruce Alger
phone: (403) 296-2970
balger@alger.ca



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