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After a winding-up petition attracted by HM Revenue and Customs was adjourned in the High Court, bury have been granted a 14-day extension.
The club have been granted the further time to pay back companies, reports BBC Radio Manchester.
The Shakers were expelled in the English Football League in August as a result of the problems.
A buyer to the team ended their interest on Monday, leaving Bury on the brink of liquidation.
A set of Bury supporters have already been working to make a phoenix club and would have to employ into the English pyramid next year.
Bury North MP James Frith and the FA satisfied last week to go over possible admission into the National League strategy, the fifth and sixth tiers of soccer, and reported favorable discussions.
National League regulations say that its committee will ascertainat its absolute discretion where league any new club shall be set and will put out demands to be fulfilled by the new team.
An initial application should be made by 1 March, together with all necessary documentation submitted by 31 March.
Talking to BBC Radio Manchester on Tuesday, Frith said:In the event the team is liquidated, we have to carry on with the plan which is an application to the National League system using a new incarnation of Bury Football Club.
From my discussions with the FA, that could contain what they call mitigation, which could imply our program could be considered together with the dimensions and heritage of our club.
While liquidation would ordinarily mean entry to the lowest step in the pyramid, theres an outside chance with Burys circumstances – which could be featured in almost any application we would create – being relegated to an proper level within the National League system
Bury achieved promotion to League One final year amid a history of severe financial difficulty, which was continuing before the club was bought by Steve Dale in proprietor Stewart Day # 1.
The team was up available again within five months, with Dale saying the problemsturned out to be much in excess of that which we could have comprehended.
A company voluntary arrangement (CVA) was agreed with creditors to help clear some of the clubs debts, leading to a 12-point deduction.
Bury six fittings of the season were suspended it had the funding to finish the campaign and while the EFL awaited proof of the way that it could cover creditors.
Every time a last-ditch takeover bid by C&N Sporting Risk dropped prior to the EFLs deadline on 27 August, the league said it choseafter a lengthy and comprehensive discussion to remove Burys EFL membershipwith huge sorrow.
This was the first team to have its own league membership since Maidstone were liquidated in 1992 withdrawn.
Arescue board – like local politicians and fans group Forever Bury – created a proposal to the Shakers to be put in League Two next year, however, itdidnt have the essential support and has been rejected at an assembly of the EFLs member clubs on 26 September.
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