Why It’s Important to Complete Your Bankruptcy

Why It's Important to Complete Your Bankruptcy

The Imperative of Finalizing Your Bankruptcy and Obtaining Discharge

Bankruptcy is a complex, multifaceted process that requires a borrower’s full attention and commitment. It is not a decision to be taken lightly, nor a process to be initiated half-heartedly. The crux of pursuing debt relief by going bankrupt lies in securing the much-coveted discharge – the legal declaration that eliminates your debts. Failing to complete your bankruptcy and obtain a discharge could lead to detrimental consequences.

Understanding the Importance of Bankruptcy Discharge

The completion of bankruptcy is a critical juncture. The process is not designed for one to change their mind midway or to tread lightly. On the contrary, it demands your full dedication, adherence to specified duties, and timely submissions.


Incomplete bankruptcy obligations often lead to a lack of discharge, leaving you still liable for your debts.


Duties and Obligations in Bankruptcy

Bankruptcy is not merely a legal process but also a commitment to reshaping your financial habits. The duties during bankruptcy are a testament to this. They include:


  • Providing financial information to the trustee.
  • Making necessary payments.
  • Attending mandatory credit counselling sessions.


These obligations are not burdensome. Instead, they are designed to help you navigate the process and emerge with a stronger understanding of financial management.


Remember: Failing to fulfill these duties can result in the denial of your bankruptcy discharge.


Consequences of Incomplete Bankruptcy

So, what happens when you don’t see your bankruptcy through to the end? The consequences can be significant and far-reaching.

Initially, the trustee can apply for his discharge. This means he is no longer responsible for administering your case. Following this, you would need to pay an additional fee to reopen the file, complete all outstanding duties, and then seek court approval for your discharge.

The Return of Original Creditors

Once the trustee is discharged, the original creditors regain their rights. They can charge interest for the period you were supposed to be in bankruptcy and can resume collection activity.


Inability to complete bankruptcy can lead to liens on your assets, garnishment of your pay, and reinstatement of judgments that led to your debt in the first place.


Making Bankruptcy Easier

Bankruptcy doesn’t have to be a daunting experience. It is indeed a process, and like any process, it necessitates completion. While resources and assistance are available to guide you through, the ultimate responsibility lies on your shoulders.


Starting bankruptcy is a decision only you can make, and finishing it is in your best interest.



Completing your file is not merely a legal obligation but a commitment to yourself and your financial future. Not receiving your discharge can pose a significant problem, leaving you in a state of financial limbo. Therefore, it is crucial to understand Why It’s Critical to Complete Your Bankruptcy and Get your Discharge. Remember, the goal is not just to eliminate your debts, but to learn from the experience and come out stronger and more financially savvy.

Make no mistake, getting out of debt by going bankrupt is a journey, and like every journey, it has a beginning and an end. It is up to you to ensure that you reach the end and attain the discharge that will set you on the path to financial recovery.

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