I was divorced back in Novemer 2005. I also had to go throug a bankruptcy just before that. Since then my life has turned into one finacial disaster after another, thanks to my ex-wife, and I need to know if I can claim bankruptcy for a second time.
We are now legally divorced, I was discharged two years ago and can`t seem to figure another way out.
posted by Questions @ 7:57 pm
At April 4, 2008 |
7:13 am
, Barton Goth GCO Bankruptcy Trustees Said...
Yes you can file bankruptcy more than once, but I typically recommend you try to avoid doing so if possible and the reasons are as follows:
1. The impact of bankruptcy on your credit is an R9 for 14 years since you have been as opposed to 6 years with a first bankruptcy.
2. You are not eligible for an automatic discharge with a second bankruptcy so it is necessary to have a court hearing. At this court hearing it will be up to the Registrar to determine what types of conditions you will have to meet to be discharged (I look at these as penalties for having to file a second time, they are often a combination of additional money you must pay and additional time you must remain in bankruptcy).
3. The filing of a Consumer Proposal is a good way to avoid these negative aspects of multiple bankruptcies.
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