A second bankruptcy will be reported at the credit bureau for 14 years instead of 7. So it may be more difficult to get credit. If you are in Alberta, no one can stop you from assuming a mortgage if you can find one that suits you. Also, a mortgage broker may be able to find you a mortgage but these usually come with higher interest rates.

There is a mandatory court appearance for a discharge from a second bankruptcy. Whether you are in bankruptcy longer will depend on the district you live in as each court is a little bit different. Also, the assets you can keep will depend on the province you live in.

The answers to these questions can be obtained by going to free assessment by a Trustee. To obtain a free assessment, you should contact a Trustee in your area by looking in the yellow pages under "Bankruptcy".

If you have any further questions or want to come in for a free assessment to our office, please call or email me using the information below.

Shane Brenneis
phone: (403) 298-1575
sbrenneis@collinsbarrow.com