Question Asked...
My son perhaps has to file bankruptcy but I need to ask a few questions. He owes bank loans, credit cards and car loan. Do all of these go away with bankruptcy? Can he still work after filing for bankruptcy and does his employer have to know that he has filed for bankruptcy?
thank you
Posted from: Ontario
From the sounds of it all these loans except the car loan will be cleared with the filing of a bankruptcy. The only way the car loan can be cleared is if the car is returned prior to the filing of a bankruptcy.
In terms of work, the bankruptcy will not prevent your son from working and in most cases his employer has no need to be informed of the bankruptcy, unless it is to remove a garnishee. From the sounds of it you need to have your son contact a local trustee to discuss the bankruptcy process in a little more detail.