Can a person go bankrupt if they quit or lose their job

June 22nd, 2008 by Questions

Can a person go bankrupt if they quit or lose their job?

Posted from: Ontario

Questions

One Response to “Can a person go bankrupt if they quit or lose their job”


June 23, 2008 at 9:02 am, Barton Goth - Goth & Company Inc. - Bankruptcy Trustees said:

There is no requirement for you to be employed to file a bankruptcy. The only difficulty that it may provide is that there is a cost to a bankruptcy and if you are not able to make the necessary payments required in your bankruptcy you will not be discharged from your debts.

However, when you are in a position with limited income you may find that you are creditor proof. Meaning that your income and assets are not sufficient for your creditors to be able to anything to force payment. For more information you are best to contact a local trustee directly.

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.)