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Bankruptcy for the second time

I found myself rebuilding my credit life to the extend where I was able to buy a new house couple of years ago with my partner now ex-spouse. After our seperation and now divorced, I found myself in financial delima and not enough income to cover my expenses after paying child support. There where joint unsecured loans with my name as the primary, I left her the house because she could afford to carry the mortgage payment at that time and now she has moved out and forced to sell. Their is no equity. I am stressed out and can`t afford to continue this way and considering filing for bankruptcy for the second time. I was last discharges in 2000.

Posted from: Ontario

One Response to “Bankruptcy for the second time”

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

The filing of a second bankruptcy is always more difficult than the filing of a first bankruptcy, so I always suggest that it would be important for you to first meet with a local trustee and potentially discuss whether or not you would be able to put forward a consumer proposal as it would allow you to avoid some of the more negative aspects of a second bankruptcy.