FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Bankruptcy Personal

Being a Senior, hat, if any,difference is there?
Also,I was told, and read on a site, can`t remember which one, that it may not be a good idea for Seniors to go Bankrupt.
If Bankruptcy is the option, are you required to surrender all credit cards etc.
Any information would be most helpful.

Thank You……………….smc

Posted from: Nova Scotia

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One Response to “Bankruptcy Personal”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Whether your a senor or not makes no difference to the bankruptcy process. The bankruptcy process deals with things like income, expenses, liabilities, assets, not age.

In terms of whether it is a bad idea for a senior to file a bankruptcy, I am not sure why this might have been suggested. In fact I find with seniors, because they are not planning on purchasing real estate etc. the negative credit rating impact associated with bankruptcy is not as meaningful.

As for credit cards, you are not able to keep any credit cards when you file.