Unemployment and Bankruptcy
June 3rd, 2008 by Questions
Can a person declare bankruptcy while unemployed?
I was laid off in the first week of May and I have started recieving EI. The EI payments will end next April.
I have about 120K in debt. About 75K of the debt is covered by credit insurance which pays the minimum payment (3% – 5% per month) as long as I`am unemployed.
I`am planning to utilize my forced unemployment to upgrade my skills.
Taking advantage of my current unemployment status can I also declare bankruptcy and get rid of my debt before taking a new job?
Posted from: Ontario