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2nd Bankruptcy

I went bankrupt back in 2002 after a bad divorce. I am now in a bad place again and considering bankruptcy again.
How long will my credit be affected for a second bankruptcy?

Posted from: British Columbia

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One Response to “2nd Bankruptcy”

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

A second bankruptcy has a significantly longer impact on your credit than a first. What will happen is the credit bureau’s will list an R9 for a maximum period of 14 years from the date you are discharged. For that reason we typicaly look at potentially filing a consumer proposal instead of a second bankruptcy. I don’t know if your situation will permit this, but it is something to consider.