Will this hurt me if I declare bankruptcy?

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Will this hurt me if I declare bankruptcy?Will this hurt me if I declare bankruptcy?

In the last few days the bank put a hold on my chequing account, so I have been unable to access the few hundred dollars that remain in the account (which I need to pay for food, prescriptions, and car repairs).  Today, after calling the bank’s collections department and agreeing to make a payment on my Visa balance on Friday (payday) they removed the hold on my chequing account.  Unfortunately, I simply can’t afford to make the promised payment.  My question is:  would there be any negative repercussions with regards to my declaring bankruptcy — which I imagine I will finally have to do in the next week or two — if I were to withdraw the funds in my chequing account today and then fail to make the promised Visa payment on Friday?  Thanks very much.

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The only negative consequence of an upcoming bankruptcy I can see is that the bank could be so upset it would oppose your discharge from bankruptcy.

You would still be discharged eventually with some effort but it would take a little more time. I think it is unlikely that they would oppose your discharge, however. If you decide to speak to a trustee you can find one on our page:

https://bankruptcycanada.com/trustees1.htm

Good luck.

– Trustee

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