2025-10-21
How we helped a client decide between a consumer proposal and bankruptcy
A client thought bankruptcy was their only way out. See how a consumer proposal helped them keep their home and repay debt with confidence.
Filing For Bankruptcy Multiple Times In Canada
2009-10-21
You may file for bankruptcy for a fourth time; however, you will have some difficulty being discharged (i.e., released) from a fourth bankruptcy. You will face a Court hearing for your discharge (as you would have with your second and third bankruptcies) and the Court may refuse or suspend your discharge for a considerable period of time and potentially place financial conditions on your discharge, depending on your conduct and payment ability. You should consider all alternatives to bankruptcy before embarking on a fourth bankruptcy (or second or third bankruptcy). A Trustee can assist you in considering these alternatives, one such alternative being a consumer proposal. While new bankruptcy laws in Canada have made things a bit “tougher” for individuals who have been bankrupt before, these new laws have made consumer proposals more accessible and more flexible than they have been in the past. If you wish to discuss your options, including the alternatives to bankruptcy, please feel free to contact me or another member of the MNP team. Regards, Lana Gilbertson, Trustee MNP Vancouver 604 637 1599
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