Perfect Payment Records – but I`m homeless because of it!

August 31st, 2008 by Questions

I have a perfect track record of making all my payments; however, it leaves me without enough money to pay for rent and now I crash at different friend`s houses. Is this justification to file for bankrupcy or should I default on my loans first and then file?

Posted from: Ontario

Questions

One Response to “Perfect Payment Records – but I`m homeless because of it!”


September 01, 2008 at 4:45 pm, Barton Goth - Goth & Company Inc. - Bankruptcy Trustees said:

Being in default or not has no real bearing on whether or not you should be considering bankruptcy. In my opinion it comes down to can you afford to live and meet all your financial obligations. If not, is there any way to cut expenses to do so. Likely the answer to both questions is no. This doesn’t mean bankruptcy is necessarily the answer, but it means it is important you find some type of solution, perhaps bankruptcy, that will allow you to cover your necessary cost of living.

At this point I would suggest you need to contact a local trustee and review what options you have available.

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