3rd Bankruptcy

July 17th, 2007 by Questions

What happens if this would be a 3rd Bankruptcy?

Questions

One Response to “3rd Bankruptcy”


July 18, 2007 at 4:27 pm, Barton Goth GCO Bankruptcy Trustees said:

While 3rd time bankruptcies are rare, they are possible. However as each court handles these matters slightly differently it is often very difficult to predict these things.

Having said this you can expect that your trustee will oppose your discharge (he is required to do this by law as it is the mechanism that is used to inform the courts of the circumstances surrounding your previous bankruptcies) and the court will impose some time of penalty.

As for what this penalty will be I cannot say as it is often based on your ability to pay, the duration between bankruptcies, the specific nature of the previous bankruptcies etc.

The best thing for you to do is to contact a local trustee and they will be able to examine some of the above facts and help you understand what you can expect.

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.)