May 25th, 2011 by Questions
I just lost my job, can I declare bankrupcy or CP now or wait until I start receiving my EI?
Posted from: Ontario
May 25, 2011 at 4:56 pm, A licensed trustee said:
You have the right to file bankruptcy as soon as you want, but most trustees will suggest you wait a little bit to see if you are able to find a new job, or at least until your situation “stabilizes” a bit. You can’t be a little bankrupt – once you file you need to complete the procedure and I can’t tell you how many times people have rushed into it after a job loss only to find out a month or two later than they probably shouldn’t have…
It is your choice, just be careful and take enough time to understand how the process works.
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