2nd Bankruptcy

June 6th, 2011 by Questions

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


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.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)