What To Do if You Forgot to List a Creditor
on Your Bankruptcy Paperwork

People filing bankruptcy have a lot on their minds, so it is not unusual to forget to list a creditor.

If the bankruptcy is ongoing and if the oversight is just a mistake, and not done to “game” the system, the solution is simple.

Just tell your trustee you forgot to list a creditor and give the trustee the name, address and the amount owed to that creditor.

If you did not list a creditor on purpose because you, for example, did not want your uncle to know you were filing bankruptcy, that is a serious offense under the Bankruptcy and Insolvency Act.

When you signed the bankruptcy papers you were swearing an oath that you had divulged all your assets, debts and that all other information was correct.

In some (very infrequent) cases if the creditor was not added because you did not want him paid then that is a serious matter.

That creditor could argue that you are responsible for paying him the full amount of the debt.

It could also result in your discharge being delayed and criminal charges being laid.

The Office of the Superintendent of Bankruptcy and the RCMP treat violations of the Bankruptcy and Insolvency Act very seriously.

What if I Forgot to List a Creditor on my Bankruptcy?

What happens if you forgot to list a creditor and did not realize it until well after your discharge from bankruptcy and your trustee’s discharge?

There is a provision in the Bankruptcy and Insolvency Act that deals with this matter.

You must pay that creditor the payment (dividend) he would have received had he been listed and that will absolve you from any further payments.

In most cases that is nothing because in most bankruptcies the creditors receive no money.

If, for example, all the creditors received 10 cents on the dollar then you will have to pay that creditor 10 cents on the dollar of his debt.

If you have any questions about this or other aspects of bankruptcy or consumer proposals you can set up a FREE consultation with our trustees, who are in every province and territory in Canada.