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how many times can a person go bankrupt?

how many times can a person go bankrupt?

One Response to “how many times can a person go bankrupt?”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

There is no limit to the number of times you file a bankruptcy, but each subsequent bankruptcy is more difficult to complete and has a greater impact on your credit rating (2nd time bankruptcy is listed as an R9 for 14 years). Often to avoid this severe result, it worthwhile considering a consumer proposal as it has a significantly less severe impact on your credit rating (R7 for 3 years).

For more information on which direction to proceed contact a licensed trustee in your area and he will be able to outline the pros and cons of both directions.