FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Phone

This field is for validation purposes and should be left unchanged.

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

This field is hidden when viewing the form

Source

How can we help you?

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.

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Select Trustee By Province

Bankruptcy and returning to college?

I`am married and both of us are employed. I don`t have a well paying job but my wife does. I`am saddled with about 100K in unsecured personal debt which is entirely due to living beyond my means for the last 4 years. I`am current on all accounts but turns out that 70% of my after tax salary goes to servicing the debt. My wife has lesser debt and a better salary and she has been suggesting that I quit my job , declare bankruptcy and go back to college. Will VOLUNTARILY QUITTING a job before declaring bankruptcy be illegal?

Posted from: Ontario

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “Bankruptcy and returning to college?”

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

Voluntarily quitting your job prior to the filing of a bankruptcy is not going to cause you any problems and is definitely not illegal. If you are currently underemployed and there is some mechanism for you to enhance your skill set in an effort to upgrade your employment situation this is always something that is suggested and if the filing of a bankruptcy helps to make this possible then all the better.