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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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Loans

I have recently taken out a loan. three months later i am realizing I can not keep a float… How long do I have to wait before I can now file bankruptcy???

Posted from: Ontario

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One Response to “Loans”

A licensed trustee said...

You are not required to wait at all, but you’ll need to provide your trustee with a detailed accounting of what you did with the loan your took out 3 months ago. If you can’t show what you did with the money, or if you did something that might be considered questionable (say used it to pay for a trip, or to give to a family member) there m,ay be issues…