January 21st, 2009 by Questions

I am considering declaring bankruptcy, however, my spouse has already been bankrupt (now discharged) and am wondering how wise this choice would be for me now? Would it be difficult in the future to acquire loans, etc.?

Posted from: British Columbia


One Response to “Bankruptcy”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

It is always difficult to get a loan after bankruptcy, but often it is no different than the position people are in prior to bankruptcy. This is one thing that most people forget as obtaining a loan is based on more than simply your credit history and most people I see prior to bankruptcy, due to their existing debt level, simply are not able to borrow any money.

So in sum, yes applying for loans will be a challenge, but you probably won’t see much of a change, and the good thing is that your debts will be dealt with so you may not need as many loans in the future.

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