How Long Will I Be Bankrupt for in Saskatchewan?

Several factors affect how long you will be bankrupt for in Saskatchewan. You are permitted to be discharged from bankruptcy after nine months if this is your first bankruptcy, if you complete all of your mandatory duties while bankrupt, and if your trustee or your creditors are not opposed to your discharge.

Unfortunately, if you have been bankrupt in the past, you are not eligible for an automatic discharge from bankruptcy after nine months. Your bankruptcy will be extended for a period of time that will be determined by the bankruptcy court.

NOTE: At the time of writing, the government of Canada has introduced proposed bankruptcy reforms that will extend the length of the bankruptcy in some cases. Additional details can be found in our article on bankruptcy reforms: http://www.bankruptcy-ontario.org/bankruptcy-reform.htm

Bankruptcy rules are complex, so we suggest you contact a licensed Saskatchewan bankruptcy trustee who will meet with you, explain the rules for filing bankruptcy, discuss how long you will be bankrupt for in Saskatchewan, and help you decide whether or not a bankruptcy is the correct solution for your financial situation.