Second Time Bankruptcy

Hello, You should inform the Trustee of your previous bankruptcy for a number of reasons. Consideration must be given as to whether or not you have been discharged from your first bankruptcy. You cannot file a second time without receiving a discharge from your first bankruptcy. The Trustee will also want to advise you of the issues relating to a second bankruptcy. For example, it will be on your credit history for approximately 14 years from the date of discharge. In addition, you are not eligible for an automatic discharge after 9 months. Rather, you may be subject to a suspension of your discharge or a conditional order for payment by the court. If a significant amount of time has passed since the first bankruptcy, the court will not impose as long a suspension than if the second bankruptcy occurs shortly after the first one. If there is a short period of time between bankruptcies, you may also be examined by the Official Receiver (an agent of the Office of the Superintendent of Bankruptcy) as they may want to further explore the reasons you are filing a second time.Under pending new legislation, an individual filing for bankruptcy a second time will be eligible for an automatic discharge after 24 months (or 36 months if you have surplus income). The date on which this new legislation will come into effect is presently unknown. As you can see, it is important to provide full disclosure to the Trustee so as to receive a proper assessment of your situation. The Trustee also has access to a database where he or she will search to confirm whether or not there are any previous filings. Brad Milne Trustee in Bankruptcy Brandon, Manitoba