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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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Q

I just took out a mortgage 3 months ago, i got $20k in credit card bills, i got $18k in student loan, and just spent $12k on electronics. i can`t make any of my payments,if i file for bankruptcy can i get charged with frod.

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One Response to “Q”

Barton Goth GCO Bankruptcy Trustees said...

It doesn’t sound like fraud is a major issue, but you have purchased extras that you knew you couldn’t afford and therefore should not have done.

You will need to discuss this with your trustee, but what will likely happen is that either you will repay some of these electronics purchases as part of the bankruptcy or liquidate the electronics, but either way your discharge will likely be opposed by creditors and be extended past the original 9 months.

Due to the unique nature of this you are best to contact a local trustee and discuss this scenario in greater depth.