bankruptcy eligibility

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To file for bankruptcy do I have to be delinquent in my monthly payments. The reason I as is that I have not missed any payments, but I see the storm clouds looming, haven`t made more than the minimum payments in the last two years, am barley covering the interst and just saw my overtime elimitated (which I have been relying on to make my payments).

thanks

Posted on Tuesday, April 14, 2009 | Filed under: Bankruptcy
 posted by Questions @ 8:49 pm 1 Comment
1 Expert Comment:

 At April 17, 2009 | 7:56 am , Barton Goth, Trustee in Bankruptcy Said...

There is no delinquency requirement that must be fulfilled in order to be eligible for bankruptcy. All you have to do is owe greater than $1000, be unable to pay your debts as they become due and reside or own property in Canada.

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