I laid off 6 employees on March 19, 2020 because the company we supplied our service to closed because of Covid - I applied for the 40000 line of credit the government was offering - I was able to pay off two creditors and then found out I am nolonger needed at this company - I have nochoice but to declare bankruptcy as I wasn't in a good financial position to start with - my question is this because my trustee that I am conversing with doesn't know the legalities of me taking the line of credit on the 23rd of April and paying off two creditors - my intentions were to pay off other creditors when we went back to work - what should I do?

Asked 15 days ago in Ontario
Categories: Debt & Bankruptcy

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