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How Long Does Bankruptcy Take To Go Through

How Long Does Probate Take In Ontario Introduction

Can I get out of my Chapter 13 bankruptcy early ?

If you are handling property that was left by the deceased, either in a will or without a will, the legal procedure to deal with it is called probate. There is even more to the procedure of probate than simply doling out what the person wanted his or her beneficiaries to have.

There are regulations on:

  • Who can fulfill the role of Estate Trustee?
  • The process of the court of probate.
  • The rules determining how estate assets to be separated between property that must be probated and property that does not need to go through probate.
  • How to deal with property and claims after probate has been granted.
  • Dealing with claims against the Estate, especially competing claims.
  • Completing the necessary final personal income tax return and any other outstanding returns, the Estate tax return and dealing with Canada Revenue Agency on various personal income tax and estate tax issues.
  • Understanding the terms of any life insurance policy or policies on the life of the deceased, advising the insurer of the death and determining who the life insurance proceeds should be paid to depending on the beneficiary designations.
  • The overall duties of the Estate Trustee.
  • Knowing howlong does probate take in Ontario?

The purpose of this Brandon Blog is to answer the question, how long does probate take in Ontario and the 6 other most frequently asked questions we find people ask us in our role as Estate Trustee in our Smith Estate Trustee Ontariobusiness.

how long does probate take in ontario

Can A Chapter 7 Be Removed From Credit Report Before 10 Years

A chapter 7 bankruptcy can only be removed from your credit report before the 10 year period if there are any inaccuracies in the information thats reported. You cannot remove a bankruptcy from your credit report simply because you dont want it to be there. Most people will have to wait the 10 years before the bankruptcy falls off their credit report on its own.

How Your Creditors Are Paid

The official receiver will take control of your assets unless an insolvency practitioner is appointed. An insolvency practitioner is usually an accountant or solicitor.

The person who takes control of your assets is known as the trustee. The law says you must cooperate fully with them.

The trustee will sell your assets and tell the creditors how the money will be shared. Creditors must then make a formal claim. You cant make payments directly.

If you have assets, money from the sale of these will be used to pay the costs of the bankruptcy process before creditors are paid. If your case is administered by the official receiver the following fees will all be deducted from the money realised:

  • an administration fee of £1,990 if you applied for your own bankruptcy or £2,775 if someone else applied
  • a general fee of £6,000
  • 15% of the total value of assets realised
  • a fee charged at an hourly rate where money is paid to creditors

If there are insufficient assets in your case the official receiver will still process your bankruptcy.

Next, money will be used for:

  • certain debts in relation to employees, if you had any
  • your other creditors
  • interest on all debts

Any money left over will be returned to you. If everyone is paid in full you can apply to have your bankruptcy cancelled .

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When Your Bankruptcy Will End

You will be freed from bankruptcy after 12 months. This ends the bankruptcy restrictions and releases you from most of the debts you had when the bankruptcy order was made.

Youll normally be discharged automatically, even if:

  • no payments have been made to your creditors
  • youre still paying an IPA or IPO
  • some assets havent been sold yet

Assets you had during bankruptcy can still be used to pay your debts once your bankruptcy has ended.

Your bankruptcy can be extended for longer than 12 months if you dont co-operate with your trustee. Check your discharge date using the Individual Insolvency Register on our website. If your discharge status is suspended indefinitely you need to contact the official receiver for an update.

Phase : 341 Meeting Date Of Discharge

Bankruptcy, How Long Does It Take?

Remember how the date of the 341 meeting determines a lot of deadlines for the rest of the case? Here is how it works:

341 meeting + 30 days = Deadline for the trustee to object to an exemption you claimed. This deadline starts when the 341 meeting is âconcludedâ which can be delayed if the trustee schedules a follow up meeting.

341 meeting + 60 days = Deadline for creditors to object to having their debt discharged. are not very common in typical Chapter 7 cases, but they do happen.

341 meeting + 45 days = Deadline to deal with secured debts, like car loans .

Once the deadline to object to the discharge has passed, the court will enter the discharge order.

Can the discharge date be delayed?

Yes. If you donât take your financial management course after filing and submit a certificate of completion, the bankruptcy court canât grant your discharge. If too much time passes, the court can close your case.

Other Things That Can Delay The Entry Of The Discharge

Also Check: What Is Epiq Bankruptcy Solutions Llc

How Long Does Probate Take In Ontario Ontario Allows Probate Applications By E

What is the modification? The court has chosen to permit electronic submissions which are suggested to address the relentless stockpile issues. It also is part of a bigger campaign by the government to update the probate process in Ontario.

As I have stated above, the application for a Certificate of Appointment of Estate Trustee is part of the wider probate process. Allowing applications via email, which started in October 2020, is a reaction to both the backlog and the new truths forced upon the Ontario Superior Court of Justice Estates List section due to the new realities on how the court must adapt to operate in the COVID-19 pandemic era.

With any luck, this will quicken how long does probate take in Ontario.

What Is A Probate Certificate Is A Probate Certificate Required

Here are two probate Ontario FAQs in one! A person could make an application to the Estates court for a Probate Certificate if the:

  • Deceased individual passed away without a will.
  • Deceasedâs will does not name an Estate Trustee.
  • Financial institutions or other 3rd party wants evidence of a personâs legal authority to deal with the financial assets of the deceased which does not automatically pass to one more person by right of survivorship. Joint bank accounts, as long as the other name on the accounts were not minors, would automatically pass to the other joint owners without having to through the application for probate through the Estates Court, otherwise known as the Probate Court.
  • List of assets includes real estate where the real property does not automatically pass to one or more individuals because of joint ownership.
  • Stakeholders disagree concerning the appointment of the Estate Trustee or any claim that the named Estate Trustee has a conflict or is otherwise not capable or qualified to act.
  • Parties disagree or there may very well be a prospective disagreement regarding the legitimacy of the âs will or some beneficiaries called in the will are not able to supply lawful authorization.

May times just being able to comb through the documents of the deceased to get the necessary information extends how long does probate take in Ontario.

Read Also: Can I Get A Bankruptcy Removed Early

Talk To A Bankruptcy Lawyer

Need professional help? Start here.

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    How Long Does Probate Take In Ontario Summary

    How long does Chapter 7 bankruptcy last? What will my life look like during bankruptcy?

    I hope you found how long does probate take in Ontario Brandon Blog post helpful. If you are concerned because there is an Estate that needs a professional Estate Trustee, Smith Estate Trustee Ontario can help you. Since we are also a licensed insolvency trustee firm, we can also help if the deceased Estate is insolvent. We can also help if you or your business have debt problems.

    It is not your fault that you remain in this way. You have actually been only shown the old ways to try to deal with financial issues. These old ways do not work anymore.

    The Ira Smith Team utilizes new modern-day ways to get you out of your debt difficulties while avoiding bankruptcy. We can get you the relief you need and so deserve.

    The tension put upon you is big. We know your discomfort factors. We will check out your entire situation and design a new approach that is as unique as you and your problems financial and emotional. We will take the weight off of your shoulders and blow away the dark cloud hanging over you. We will design a debt settlement strategy for you. We know that we can help you now.

    We understand that people and businesses facing financial issues need a realistic lifeline. There is no âone solution fits allâ method with the Ira Smith Team. Not everyone has to file bankruptcy in Canada. The majority of our clients never do. We help many people and companies stay clear of bankruptcy.

    how long does probate take in ontario

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    Know How Much Time You Have Until Youre In The Clear

    When consumers file for bankruptcy, they usually want the process to be over and done with as quickly as possible. After all, the sooner you complete the process, the faster you can get started rebuilding and moving forward with a fresh start.

    Unfortunately, filing for bankruptcy doesnt mean your troubles are over in a snap. Even with Chapter 7 bankruptcy, which is generally the faster type of personal filing, its going to take some time.

    The answer below can help you estimate how long you have on the road ahead, but if you need to file and have questions, you should talk to a professional. That way, the estimates they give you can be based on the specifics of your situation, so you know you have an accurate timeline. Call us or complete the form to get started.

    How Can I Find Out When My Bankruptcy Ends

    If your bankruptcy is administered by the Official Trustee , you can find out when your bankruptcy is expected to end by completing the End of bankruptcy enquiry online form available below.

    If you bankruptcy is administered by a registered trustee, contact your trustee to find out your expected bankruptcy end date.

    Also Check: How To Buy A New Car After Bankruptcy

    Factors That May Delay The Closing Of Your Case

    The process described above may be delayed at several points. In most cases, issues that come up during a Chapter 7 bankruptcy may add several months to a case. In very complicated situations, a case may remain open for several years.

    The most common things that delay a case include:

    • failure to submit your certificate of completion of the financial management course in a timely manner
    • the trustee investigating or selling an asset of yours.

    Dealing With Your Vehicle

    The 6 Stages of Bankruptcy

    One of the forms you will file with the bankruptcy court is called the Statement of Intention. In this form, you tell the court what you plan to do with property that is securing a debt you owe, like real estate or a vehicle.

    If you own your vehicle but are still paying on the loan, you have a few options on how to deal with it in Chapter 7 bankruptcy.


    You can reaffirm the debt, keep your vehicle, and continue making payments. This means the debt will not be discharged and you will continue making monthly payments during and after bankruptcy. If you miss future payments the lender will have the right to repossess the vehicle and possibly try to collect on any deficiency between the balance you owe and the amount they get when selling the vehicle.

    If you select this option in your Statement of Intention, your car lender will send you a reaffirmation agreement for you to complete and return. In some bankruptcy cases a reaffirmation hearing will be scheduled.


    If you choose to surrender your vehicle, then it will be repossessed and the debt will be discharged in your bankruptcy. Filers with high car payments they can’t afford often choose to surrender their car to get out of the debt.


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    No Asset Cases Close Quickly

    In many Chapter 7 cases, the debtor keeps all property because the debtor’s assets are exempt. This type of bankruptcy is known as a no-asset Chapter 7. In most no-asset cases, nothing remains to be done after discharge. After the trustee files a report stating that there are no assets to administer, if there is no outstanding litigation, the court enters an order closing the case.

    The Trustee Sells Your Assets

    If the trustee has identified an asset that might be sold in your case, the process of valuing that asset, acquiring it from you, and selling it, when necessary, will almost certainly delay the closing of your case.

    Example. Let’s say the trustee plans to sell your home. The trustee must list your house with a realtor, show the property, and negotiate and close the sale. Once you add the additional time necessary for the trustee to have that sale authorized through the court, gather claims from your creditors, and pay them, the whole process will a significant amount of time to your case.

    If the trustee is able to sell or acquire the asset quickly, this process may add just a few months to your case. But if the trustee has difficulty acquiring or selling the asset, this process could add years to your case, although this is rare.

    In most situations like this, the court will grant the discharge long before closing the case. While it may be frustrating to have the case linger on, keep in mind that once you receive the discharge, you are no longer liable for your dischargeable debts.

    Take our bankruptcy quiz to identify potential issues and learn how to best proceed with your bankruptcy case.

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    Does Bankruptcy Take Care Of Any Tax Money I Owe To The Canadian Revenue Agency

    Many people assume that income tax debt is not dischargeable in bankruptcy. However, in a bankruptcy, your debt to the CRA is treated the same as any other unsecured debt, such as credit cards or lines of credit. After filing for bankruptcy, all interest and collection activity by the CRA will stop. Additionally, your trustee will communicate directly with the CRA on your behalf.

    Complete The Bankruptcy Form And Pay The Fee

    Refinancing 101: How long does it take to go through the refinancing process?

    To apply to go bankrupt you need to fill in an online application. You or someone helping you can fill in the form on the GOV.UK website. You can save and come back to it later if you need to.

    You will need to pay a total fee of £680 to apply to go bankrupt. You won’t get this back unless you decide to cancel your application before submitting it.

    You can pay the bankruptcy fee online when you fill in the form with a credit or debit card. If you pay online you can pay in instalments. The minimum online payment amount is £5 and can be paid in as many instalments as you need.

    You can also pay by cash at a bank. You’ll be told which bank to use when you fill in the form. You cant pay by instalments if you pay in cash.

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    Find Help For Car Loans And Mortgages

    When the time comes to buy something larger with debt, such as a car or house, you may need to have another party, such as your parents, cosign the loan.

    Without this, you may not be able to obtain financing at all. With it, you may be able to get something resembling decent terms on your loan, depending on the credit score of the cosigner. If credit is not available, you may simply have to wait until you can pay for a car with cash or consider a personal loan from your relatives and/or friends.

    Also an issue if you’re buying a car: After declaring bankruptcy, you may find that insurance companies are reluctant or unwilling to insure you. If your past credit history puts you in what insurers consider a high risk pool, there are companies that will provide car insurance for youcharging more, but you still need it to drive.

    Who Deals With Your Bankruptcy

    An Official Receiver is appointed to protect your assets. They act as trustee of your bankruptcy affairs if you have no assets.

    If you have assets, an Insolvency Practitioner will be appointed to act as trustee and sell your assets to pay your creditors. To read more, go to:

    Once a bankruptcy order has been made against you, your creditors cannot pursue you for payment. The trustee is responsible for payments.

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