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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.

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WORRIED SICK

My wife declared bankruptcy about 10 yrs ago and I about 25 yrs ago. Can we do it again, and will we have to make a monthly payment to creditors still? Or can we be absolved of our debt totally?

Posted from: Ontario

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One Response to “WORRIED SICK”

A licensed trustee said...

Yes you may, but the procedure will be extended. The second time aperosn files for bankruptcy the process takes a minimum of 24 months, possibly 36 depending on household income.

You may want to lok into something called a consumer proposal before you decide to file bankruptcy again. Use the links on this site to find a trustee in your area and give them a call to discuss all of your options to deal with these debts.