3rd time bankruptcy

April 21st, 2007 by Questions

In 1978 My husband lost his job and we declared bankruptcy.

In 2002 I declared bankruptcy after the divorce and had no employment for over a year.

I re-established my credit but now my income will be dropping over 20,000.00 per year and I am unable to pay all my creditors.

If I go bankrupt again how long before I would be discharged??

I am not interested this time in re-establishing credit.

Questions

One Response to “3rd time bankruptcy”



April 23, 2007 at 12:22 pm, A licensed trustee said:

The rules in each of the provinces are somewhat different so you should check with a trustee in your area to determine how your case will be handled.

In Ontario, 3rd time bankrupts must appear in Court with copies of their filing and discharge documents from their first two bankruptcies. The Court will then set the terms for their third discharge. It is not uncommon for 3rd time filers in Ontario to remain bankrupt for 2 or more years, depending on how much time has elapsed in between filings.

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