January 28th, 2008 by Questions
how many time can you file for bankruptcy in your life?
January 29, 2008 at 7:03 am, A licensed trustee said:
There’s no legal limit in Canada on the number of times you may file an assignment in bankruptcy.
From a practical standpoint, every time you file the process will be more involved and costly than the time before. The first time you may be automatically discharged in 9 months. The second time you will be required to appear in Court and the process may last 15 months. the third time you have to produce all of the documents from your first two bankruptcies and the process will likely take 36 months with at least 2 appearances in Court. The fourth time, well I’ve never seen anyone apply a fourth time – I don’t recommend it…
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