How many times can 1 person go bankrupt?
December 6th, 2010 by Questions
Good evening; what is the limit to Bankruptcy? I meen how do people file more than once? I need some questions answered in regards to this very stressful situation. I lost my license, therefore lost my job. I cannot pay rent, not eligible for E.I. and very worried. Please help.
Posted from: Ontario
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December 08, 2010 at 9:49 am, A licensed trustee said:
Legally, there is no limit to how many times you can file for bankruptcy.
From a practical perspective, the Court seems to limit it to 3. Each time you file the process becomes longer and therefore more expensive. In Ontario if you file for a 4th time the Court will likely refuse to grant you a discharge.
You may want to look at filing a proposal instead…