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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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credit cards too much

I currently live in Thailand and I have used all of the money off of my credit cards ($65000 over the last 2 years) for investments over here which have gone sour. I lost all of the money and I can’t pay it back. The credit card companies are calling my Canada phone # non-stop. I have no assets in Canada and I want to come back to Canada. Can I claim bankruptcy because I have no way to pay back this debt when I get back.

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One Response to “credit cards too much”

A licensed trustee said...

You cannot file for bankruptcy from outside the country – when you return to Canada you should seek out a trustee for advice on your situation.

A couple of questions ago, some one asked about losing money in the UK – the answer is the same for you. You need to document where the moeny went and why and then you should expect to have to appear in Court to explain your conduct. The Court will decidce whether or not you acted in a reasonable manner and how long your bankruptcy will last.