2nd Bankruptcy
My sister is 63 years old and just got laid off from her job. She went bankrupt in 1990. She now owes $45,000 to Canada Revenue and $30,000 to credit card debt. Given that she will be on UIC until she finds another job which may be difficult at her age, would a second bankruptcy now wipe out all the debt?
You certainly have the right to file bankruptcy a second time to deal with your new debts. If you do please remember to take a copy of your original bankruptcy papers, plus your discharge to the trustee you’re going to deal with this time – these documents will be needed in orde for you to be discharged a second time.
I should warn you that filing for a second bankrutpcy so soon after your first bankruptcy was discharged may create some problems – the Court will likely keep you in the second bankruptcy for a couple of years in order to keep tabs on your spending.
As an alternative, you might want to consider whether or not you can afford to repay part of the debt by filing a proposal. No Court appearance is required with a proposal and you will not be penalized for having already been bankrupt before.
Use the links to contact a trustee in your area to discuss your options.