currently not working – can I claim bankruptcy?

August 27th, 2006 by Questions

can someone claim a bankruptcy if they are currently not working


One Response to “currently not working – can I claim bankruptcy?”

, 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.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)