Can I go bankrupt more than one time?
When I meet with people and we are discussing their situation, it is usually very late in the appointment that they indicate they have been bankrupt before. They usually then say “That means I can’t go bankrupt again, right?”
Actually you can go bankrupt more than one time but when we are discussing your financial situation, if you do not let me know you have been bankrupt before, the issues this creates might not be discussed. Make sure you let the person with whom you are meeting know that you have done this before.
Issues that should then be discussed:
- how has the process changed since you filed that last time?
- what is the increased cost?
- do you realize that in the London area at least, you will need to attend a discharge hearing at court to get your discharge?
- why did you go the last time and how long ago?
- the effect of a second bankruptcy on your credit record.
These are just some of the items that should be covered. Depending on the situation, it may mean that filing personal bankruptcy a second time is not the best option. Perhaps a consumer proposal or a debt management program with a credit counselling agency is a better option.
Do not be tempted to keep information to yourself when you are meeting with our firm. We encourage people to be open about their affairs as only with good information can we properly advise you as to the options that you have available and help you make the decision for the best option.
I look forward to meeting you at the London office so call 519-435-1500 or 310-PLAN today to talk to one of our professionals and have them set up an appointment with me.
