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Do I have to tell that I have claimed bankruptcy before?

If I have filed for bankruptcy over 15 years ago and I am considering filing a consumer proposal do I have to tell that I have claimed bankruptcy before? And will this affect me trying to file a consumer proposal?

Posted from: Ontario

One Response to “Do I have to tell that I have claimed bankruptcy before?”

A licensed trustee said...

The trustee you use to handle your consumer proposal is required to do a search through the government records to see if you have ever filed bankruptcy or a proposal before. If you don’t tell them about your file from 15 years ago they are going to find out about it anyway – the difference being if they find out about it themselves (because you didn’t disclose it) they may not beleive anything else you tell them… If some one asks you if you have ever filed bankruptcy before and you have, then the answer is “yes” no matter how much time has passed.

On the plus side, it won’t have any impact on your ability to file a consumer proposal now.