Filing bankruptcy and not working
My son is in credit card debts for 23,000, he is not working and his not in Social Assistance, also he is not my dependent before the law.
Could he filed for bankruptcy, if is not which are the penalties for not pay to those credits. He should go soon to live in another country and I will like he make a responsible move to his own problems, he is only 23 years old.
Posted from: Ontario
There is no requirement to be working in order to file for bankruptcy, BUT there is a cost associated with filing for bankruptcy so most people wait to file until they have some form of income.
If your son is planning to leave the country then whatever trustee he chooses to handle his case may ask to be paid a base amount upfront.