Can I File For Personal Bankruptcy Twice?

You can file a second bankruptcy provided that you have been discharged from the first bankruptcy. If you have not been discharged from your first bankruptcy, you must first apply to the Bankruptcy Court for your discharge. Filing a consumer proposal may be another option for you rather than filing a second bankruptcy.

There have been some significant changes to the Bankruptcy and Insolvency Act since you filed your first bankruptcy. The two major differences are that second –time bankrupts may now be eligible for an automatic discharge and there may be a requirement to make surplus income payments.

Provided that you complied with all your duties under the Act and no one has objected to your discharge, as a second time bankrupt you would be eligible for an automatic discharge after 24 months - or 36 months if you have an obligation to make surplus income payments. The obligation to make surplus income payments is determined by a formula set by the Office of the Superintendent of Bankruptcy, which can be found here.

You should also be aware that record of a second bankruptcy will likely be retained at the credit bureau for 12 – 14 years from the date of your discharge, so getting credit following a second bankruptcy will likely be difficult.

Please do not hesitate to contact one of our offices to arrange a meeting with one of our estate administrators or trustees who will be pleased to provide you with a no-cost, no-obligation, initial interview to discuss your situation and answer your questions.