Mental Illness and Bankruptcy

May 30th, 2013 by Questions

My friend is now hospitalized in a mental illness facility. He has been there for over a month and his mental health is still deteriorating.

His troubles started with divorce proceedings , started over a year ago but now put on hold; he stands to lose one half of a relatively small pension.

His debts were already high and were compounded when he started to “lose it” by deciding to buy a new 2013 Mustang.

My question is whether (and how) a person in this situation, can declare bankruptcy. (Or float a proposal).
PS;
Nobody is in a rush to accept a Mandate of in-aptitude, and this includes family.

Many thanks
Rob

Posted from: Quebec

Questions

One Response to “Mental Illness and Bankruptcy”



May 30, 2013 at 7:01 pm, A licensed trustee said:

If your friend is still mentally competent then they may file a proposal or bankruptcy. If they are no longer competent then their guardian or Power of Attorney may file on their behalf. Contact a trustee firm where your friend is staying and see if they’ll visit your friend in the hospital (not likely, but possible) or if your friend needs to wait until they have been released from hospital (more likely).

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