If you declare bankruptcy do you still have to pay the debts off,or not. Are you free and clear.
Bankruptcy Alberta: Free Information about Bankruptcy in Alberta
If you declare bankruptcy do you still have to pay the debts off,or not. Are you free and clear.
The whole idea behind the filing of a bankruptcy is that upon sucessfully obtaining a discharge you are legally cleared from the majority of your unsecured creditors.
Now there are some exceptions to this as there is a list of debts that are not released by bankruptcy that are prescribed by the Bankruptcy & Insolvency Act, but other than these things a bankruptcy will be written off by the creditor and you will be cleared from them.