August 27th, 2006 by Questions
can someone claim a bankruptcy if they are currently not working
August 28, 2006 at 7:53 am, A licensed trustee said:
Yes, you can go bankrupt if you are not currently working. However, if you go bankrupt you may lose your tax refund and GST credits, and in most cases you are required to make a payment to your trustee. Since the reason most people go bankrupt is to prevent their wages from being garnisheed, it is often better to wait until you are working again to go bankrupt, since you will then have the cash flow to cover the cost of the bankruptcy, and you need the wage garnishment protection. For full details, contact a licensed trustee to arrange for a no-charge initial consultation.
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