| Author: |
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Mike |
| Date: |
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January 22 , 2002 |
| Question: |
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What happens if a person has to go bankrupt for a second
time? Can it be refused? Cost?
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From: |
|
Ann Clarke, Collins Barrow Limited |
| Date: |
|
January 24, 2002 |
| Answer: |
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A second bankruptcy requires an application to Court for the bankrupt's
discharge, and the Absolute Order of Discharge is usually suspended for
a period of several months (meaning you remain bankrupt during that
period even though you have completed your duties.) The cost is usually
higher than a first bankruptcy because of the mandatory Court hearing,
but will depend on your circumstances. The Court can grant several types
of Orders for a bankrupt's discharge, including the rare refusal, and
your Trustee will explain what is likely given your situation.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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