Is Bankruptcy necessary even if we have been outside of Canada?

March 3rd, 2010 by Questions

My wife and I have some credit card debt four years ago, we had been live outside Canada since then, do we still need file bankruptcy when we return to Canada? Thanks.

Posted from: Ontario


One Response to “Is Bankruptcy necessary even if we have been outside of Canada?”

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

Whether or not a bankruptcy is going to be necessary is really going to depend on what actions your creditors have taken while you have been gone.

Likely, your creditors would have taken the debt to court, obtained a judgment and as a result had all their collection rights preserved. If this is the case you may need to contact a liscensed trustee and determine what is required to file for bankruptcy.

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.)