Bankruptcy and returning to college?

July 20th, 2009 by Questions

I`am married and both of us are employed. I don`t have a well paying job but my wife does. I`am saddled with about 100K in unsecured personal debt which is entirely due to living beyond my means for the last 4 years. I`am current on all accounts but turns out that 70% of my after tax salary goes to servicing the debt. My wife has lesser debt and a better salary and she has been suggesting that I quit my job , declare bankruptcy and go back to college. Will VOLUNTARILY QUITTING a job before declaring bankruptcy be illegal?

Posted from: Ontario


One Response to “Bankruptcy and returning to college?”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

Voluntarily quitting your job prior to the filing of a bankruptcy is not going to cause you any problems and is definitely not illegal. If you are currently underemployed and there is some mechanism for you to enhance your skill set in an effort to upgrade your employment situation this is always something that is suggested and if the filing of a bankruptcy helps to make this possible then all the better.

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