SELF EMPLOYED AND BAKRUPTCYT

March 27th, 2010 by Questions

My husband and I both work for his business which has not been doing well in the recession so we might put the business in bankruptcy as well as personal bankruptcy. Since we both work for the business with no pay except for min. owner loan repayment if money is available once in a while we really have no other income except for my widow`s pension from my first husband. If we claim bankruptcy do we have time to get jobs and find a place to rent before starting to pay back some of our debts?

Posted from: Ontario

Questions

One Response to “SELF EMPLOYED AND BAKRUPTCYT”


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

There is no employment requirement associated with the filing of a bankruptcy. So you shouldn’t run into any difficulties there. However, you may need some more income to qualify for a new rental / lease, this will likely depend on the specifics of your situation, but is largely a different issue than that of filing for bankruptcy.

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