A first time bankruptcy, where there is no surplus income (see description below) and when there is no opposition to the discharge, will be discharged after nine (9) months. If there is surplus income, but no opposition to the discharge, the bankruptcy procedure lasts twenty-one (21) months.

If you declare bankruptcy a second time, but face no opposition to the discharge, the bankruptcy lasts between twenty-four (24) and Thirty-six (36) months depending on whether there is surplus income or not.

The duration lengths mentioned above only apply if there is no opposition to the discharge. In the rare case of opposition, bankruptcy will last longer.

SURPLUS INCOME

Surplus income is the part of your earnings that exceeds the amount of income a family needs to maintain a reasonable standard of living. This amount is set by the office of the Superintendent of Bankruptcy Canada annually.