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Alger & Associates personal bankruptcy services are
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Grant Thornton Alger Inc.

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Edmonton, Calgary bankruptcy Q&A forum

Author:

 

Beverley

Question:

 

What is "permanent" bankruptcy7



From:

 

Alger & Associates Inc.

Date:

 

Jan 13, 2013

Answer:

 

Bankruptcy is not a permanent state nor is there a "permanent' bankruptcy. Bankruptcy usually last from a minimum of 9 months to a maximum of 21 months for a first time bankrupt who has complied with all prescribed duties. A second time bankrupt will remain in bankruptcy for a minimum period of 24 months to a maximum period of 36 months, again if all duties are complied with. A creditor may oppose a discharge from bankruptcy but the Court then has the discretion to set the terms of the discharge.

Marie Kozlowski
T 403-296-3082
Marie.Kozlowski@ca.gt.com

 

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