do nothing

October 22nd, 2009 by Questions

what happens if I just ignore my creditors and leave the country to start over somewhere else. Will it automatically put me into bankruptcy?

Posted from: Ontario


One Response to “do nothing”

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

It is tough to tell you for sure as it is up to each individual creditor, but likely you would not be forced into bankruptcy. However, just because you leave the country doesn’t mean that your creditors still can’t attempt to collect from you out of country, and the added expense of cross border collection as well as the interest and associated penalties can add up to a very significant amount. So while this is a strategy you can employ, in my eyes it is fairly risky to do so.

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