I recently met with a bankruptcy trustee. Bankruptcy was suggested to me despite my willingness to file a consumer proposal. I believe that despite my past debt problems, bankruptcy seems like the best solution in my case. The trustee advised me to perhaps change bank accounts to regain credit someday, as my current bank will never forget that I filed for bankruptcy. I'm hesitant because I like the services of my current financial institution. I'm wondering: if I pay off my bankruptcy, am discharged, and open a savings account, will I be able to regain the trust of my current financial institution so they'll lend to me again? What's the best course of action if I want to rebuild my reputation someday? I've also heard that bankruptcy can cause problems with employment. I'd like to know if bankruptcy affects employment and how. I also have a joint credit card. I know that if I go bankrupt, my spouse will be sued for the payments. I have a question about this: if I contact the credit card company and ask them to remove my spouse's name, will they no longer be responsible for the card?
Bankruptcy doesn't prevent you from keeping your bank account. However, if you owe money to the same financial institution, there's a possibility of offsetting the funds in your account against the outstanding loans at the time of bankruptcy. Bankruptcy usually has no negative impact on employment, unless you're a member of a professional order, in which case you should refer to the rules governing that profession, or if your job is related to the financial sector, in which case you'll need to discuss it with your employer. As for the possibility of having your spouse released from liability on the credit card, I doubt your efforts will be successful. Furthermore, the release might only apply to future debts, not existing ones.
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