First
time bankruptcy filers always have numerous questions when they first begin to learn about the process.
Not exact matches
Many of you who are first
time filers have all kinds of questions to ask about
bankruptcy.
Almost one in five (18 %) of all Canadians who file
bankruptcy or a consumer proposal blame a relationship breakdown as a major contributor to their financial problems, and 28 % of all
filers are separated or divorced at the
time of filing.
The
bankruptcy court may require
filers to pay all of their missed mortgage payments in a
time frame which may be difficult for many
filers to do.
Benny points out that the rules regarding credit card use are black and white and that
bankruptcy law requires all
filers to turn over their credit cards to the trustee, at the
time of filing.
The other type of personal
bankruptcy, Chapter 13
bankruptcy, is often referred to as «reorganization»
bankruptcy because it gives
filers time to catch up on their debts.