This probationary period you are referring to has nothing to do with the bankruptcy act itself, but is the maximum length of time you will see a comment with the credit bureau identifying that a bankruptcy occurred. As a result has no bearing on eligibility to file a bankruptcy. Technically speaking as long as you have been discharged from bankruptcy, owe greater than $1000, wouldn’t be able to pay your debts in full if you sold all the property you own, and live in Canada, you are then eligible.
However, be advised that a 2nd bankruptcy is not as straight forward as a first. So you may want to discuss some of the advantages and disadvantages of a second time bankruptcy with a licensed trustee and I would strongly suggest you consider the possibility of filing a consumer proposal as you will find the impact on you credit to be significantly diminished (as one of the consequence of a 2nd time bankruptcy is that your impact will read R-9 for 14 years)
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1 Comments:
At 1:54 PM,
Barton Goth, GCO Inc. Bankruptcy Trustees said…
act itself, but is the maximum length of time you will see a comment with the credit bureau identifying that a bankruptcy occurred. As a result has no bearing on eligibility to file a bankruptcy. Technically speaking as long as you have been discharged from bankruptcy, owe greater than $1000, wouldn’t be able to pay your debts in full if you sold all the property you own, and live in Canada, you are then eligible.
However, be advised that a 2nd bankruptcy is not as straight forward as a first. So you may want to discuss some of the advantages and disadvantages of a second time bankruptcy with a licensed trustee and I would strongly suggest you consider the possibility of filing a consumer proposal as you will find the impact on you credit to be significantly diminished (as one of the consequence of a 2nd time bankruptcy is that your impact will read R-9 for 14 years)
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