Free Consultation

3rd Bankruptcy

What happens if this would be a 3rd Bankruptcy?

One Response to “3rd Bankruptcy”

Barton Goth GCO Bankruptcy Trustees said...

While 3rd time bankruptcies are rare, they are possible. However as each court handles these matters slightly differently it is often very difficult to predict these things.

Having said this you can expect that your trustee will oppose your discharge (he is required to do this by law as it is the mechanism that is used to inform the courts of the circumstances surrounding your previous bankruptcies) and the court will impose some time of penalty.

As for what this penalty will be I cannot say as it is often based on your ability to pay, the duration between bankruptcies, the specific nature of the previous bankruptcies etc.

The best thing for you to do is to contact a local trustee and they will be able to examine some of the above facts and help you understand what you can expect.