Post-Bankruptcy Reporting Requirements
May 22nd, 2006 by Questions
I have been discharged for over 10 years from a personal bankruptcy in Ontario. I am retired, though too young for pensions, and have but a negligible income from investments. I am a 25% shareholder in a small property business that is trying to borrow renovation funds. The banks all want persoanl guarantees, so one of the questions on the form is \”Have you ever declared bankruptcy?\”. If the bankruptcy no longer appears on my credit rating, do I still have to be honest? What is the likely outcome of being honest, given that everything I have is paid for by my husband who is also the owner of 25% of the business?