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Third Bankruptcy

I have declared bankruptcy two different times over 20 years ago. Will I be able to declare for a third time.

Posted from: Alberta

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One Response to “Third Bankruptcy”

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

There is nothing that will prevent you from filing a third bankruptcy. However, you will find that a 3rd bankruptcy will be more difficult than your first two. At a minumum you can expect that you will be in bankruptcy for 21 months, but there is a good possibility that it could be extended longer. As a result we often suggest people consider a consumer proposal if at all possible, as it allows you to avoid some of the negative consequences of multiple bankruptcy. So when you meet with a local trustee be sure to discuss whether this would be a possibility in your situation.