2nd bankruptcy and student loans
August 19th, 2008 by Questions
I filed a previous bankruptcy but couldn`t include student loans and its past the 10 years now…I am unemployed now and unable to make student loan payments. I also have other bills I have accumulated due to not working. I just started a new job but they are threatening guarnishments of my wages. Can I file bankruptcy again. My other bankruptcy was in Jan/2004 and wasn`t discharged until aug/2007
Posted from: Ontario
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August 20, 2008 at 7:04 am, A licensed trustee said:
You certainly have the right to file bankruptcy a second time to deal with your new debts. If you do please remember to take a copy of your original bankruptcy papers, plus your discharge to the trustee you’re going to deal with this time – these documents will be needed in orde for you to be discharged a second time.
I should warn you that filing for a second bankrutpcy so soon after your first bankruptcy was discharged may create some problems – the Court will likely keep you in the second bankruptcy for a couple of years in order to keep tabs on your spending.
As an alternative, you might want to consider whether or not you can afford to repay part of the debt by filing a proposal. No Court appearance is required with a proposal and you will not be penalized for having already been bankrupt before.
Use the links to contact a trustee in your area to discuss your options.