Bankruptcy Question & Answer Forum - Canada

Author:		Dodge
Date:		November 9, 2005
Question:		Hi, I have AUS$66,000 (around $60k CAD)credit card debts & personal loan in Australia which I cannot afford to re-pay. I have just emigrated here in Canada thinking of starting a new life. As a new comer I just started looking for work here. Shall I file for bankruptcy? If yes, where should I file? Or shall I just ignore my debt in Australia & just go on with my new life in Canada? Will my bad credit from Australia affect my credit rating in Canada? Thanks.
From:		Bruce, Alger & Associates Inc.
Date:		November 10, 2005
Answer:		I am not familiar with Australian bankruptcy law, so I will respond from a Canadian perspective. It is most likely that your Australian creditor will pursue you to Canada, so at some time you will have to deal with this debt. If you file in Canada, you would include the debt in your Canadian filing and you would be discharged from this debt in Canada. However, this would not necessarily be true if you returned to Australia or moved to another country where you could once again be pursued. Accordingly you might consider contacting an Australian bankruptcy administrator to determine if you could file there, while living here. Bruce Alger phone: (403) 296-2970 balger@alger.ca