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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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Helen Barker

How many times can a person declare bankruptcy?

Posted from: Ontario

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One Response to “Helen Barker”

A licensed trustee said...

There is no legal limit to how many times a person may file for bankruptcy, but from a practical standpoint, every time you file it becomes more difficult to be discharged and of course it costs more money.

A first bankruptcy may be automatically discharged in 9 months. A second bankruptcy requires attendance in Court and will likely last 18 to 24 months. A third bankruptcy requires a detailed review of the first two bankruptcy by the Court and will likely run 24 to 36 months. Fourth bankruptcies generally result in a refusal – that is the Court won’t grant one.

You might want to consider whether or not you are able to file a proposal to creditors instead of filing for bankruptcy – at the very least it will keep you out of Court.