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| Author: |
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Sanjee |
| Date: |
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January 21, 2003 |
| Question: |
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I have two maxed out credit cards and I have lost my job. I have the help of my father with my rent and food, but he can't help with the credit card payments. I am so deep in debt, would it be possible to claim bankruptcy in a situation like this? And if so how does it affect my future credit. Will I ever be able to get a credit card again?
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From: |
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Ann Clarke, Alger & Associates Inc. |
| Date: |
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January 22, 2003 |
| Answer: |
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Bankruptcy may be an option for you if you cannot pay your credit card debts. In Canada, a bankruptcy will be reflected on your credit record for 6 years after discharge. Obtaining credit again may be difficult but not impossible. Please refer the the section "Rebuilding Credit" on this website for more information.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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