March 2nd, 2009 by Questions
I have had 2 bankruptcies in my past, one in 1988 and the second in 1993 everything has been great till last year when my wife lost her job.
My questions are – do I need to disclose my previous bankruptcies as it was such a long time ago, and if so, what does this do, and how long does it stay on my credit rating? Thank you
Posted from: Ontario
One Response to “Jim G.”
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March 03, 2009 at 9:06 am, A licensed trustee said:
If you don’t disclose your previous bankruptcies you’re going to get yourself into trouble with your trustee. before your trustee is allowed to process your application for bankruptcy they are required to search the Court system for prior insolvencies. When your trustee does your searcht he two priors will appear – if you haven’t already told your trustee about them you will have lost any credibility yuo might have and the bankruptcy will become much more difficult to complete.