Do we qualify for personal bankruptcy?

December 12th, 2015 by Questions

Do I qualify for personal bankruptcy? Husband unemployed. His EI ends in December. So far no jobs in the market for me. Working with employment services. My wife is in the process of qualifying for CPPD. Own house, mortgage currently being paid by mortgage insurance. That will end when EI ends in December. Maxed out on credit cards.

Questions

One Response to “Do we qualify for personal bankruptcy?”


, Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said:

In order to file an Assignment in bankruptcy a person has to meet certain criteria set out in the Bankruptcy and Insolvency Act. Being insolvent and being unable to pay your bills as they generally become due is the definition used to determine whether or not you qualify to file an Assignment. However, there is more to determining whether or not filing an Assignment in bankruptcy is the best option for you. That is why setting up an initial consultation with a trustee in bankruptcy is important. At your meeting with the trustee they will look at the specifics of your situation and provide you with options that will help to solve your financial problems.

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.)