If you're having financial difficulties and live in Newfoundland & Labrador, call 709-758-5214 or 1-800-563-8337
today to meet one of our experts, or complete the ask a question form to send us a message and we'll get in contact
with you.
I think I may need to file for bankruptcy for a second time. Will the rules be different for me the second time around?
The difference this time is that you will not be eligible for automatic discharge after nine months.
What is surplus income?
Surplus income is the portion of money you earn over the government threshold in one month time periods.
Do you have any advice to offer if I want to avoid problems?
Although it may not be possible, you may want to consider a consumer proposal rather than filing for bankruptcy. By filing a proposal, you will have certainty over what you are required to contribute throughout the process.
Should I consult a bankruptcy trustee for further advice?
Definitely. A licensed bankruptcy trustee in Newfoundland & Labrador can outline the possible advantages and disadvantages of various options. Together, you can determine the best solution for your individual situation.
