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3rd time bankruptcy

I am currently in the process of going bankrupt a 3rd time . What treatment can I expect to receive from the courts and what penalties?

Posted from: Ontario

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One Response to “3rd time bankruptcy”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

This is difficult to say. Firstly each registrar exercises their own discretion. Second, they will want to look at the timing of the other two bankruptcies and the circumstances surrounding the other two bankruptcies. All of this will be factored into the decision the court will make. However, a third bankruptcy is not simple. You can expect the court to extend the period of your bankruptcy fairly significantly and depending on your means they may require you to pay a portion of your debt back during that time as well.