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Alger Bankruptcy Services


Same team, new name

Alger & Associates personal bankruptcy services are
now provided by
Grant Thornton Alger Inc.

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Edmonton, Calgary bankruptcy Q&A forum

Author:

 

P Fraser

Question:

 

Our niece has a 3yr old debt to us of $3000- (lent to help her start a business). She did not list this debt, when she claimed bankruptcy in Ontario, April 2012. Her bankruptcy was discharged January 2013 but she has just (Oct 11) added this debt to her bankruptcy according to the notice we have received from her Insolvency company. 1./ Can we contest the addition of our debt because it was not claimed in the beginning and her bankruptcy has been discharged? 2./ If we cannot have it removed from her bankruptcy, is this family debt still able to be recovered at some point? 3./ If it is recoverable, are we able to begin adding interest (from the beginning) to the debt?



From:

 

Grant Thornton Alger Inc.

Date:

 

Oct 30, 2013

Answer:

 

1. Her debt to you is included in her bankruptcy and you are entitled to a dividend (i.e. a pro rata share of an funds available for distribution ) from her estate if you prove your claim. If dividends were issued before your claim is proved, you may be entitled to recover any dividend you might otherwise have received from her. 2. The debt will be legally discharged and hence not recoverable by you. 3. Interest is only chargeable if the loan documents provide for interest and only up to the date of bankruptcy. I encourage you to contact her Trustee to discuss this matter in more detail. Thanks for your question.

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

 

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