FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

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How much house equity?

In bankruptcy, how much equity is considered equity in a home in Ontario?

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One Response to “How much house equity?”

A licensed trustee said...

Technically, $1 is considered equity, and you would be required to pay that equity into the estate (with equity defined as the difference between the market value of the home, and what’s owing in mortgages and other encumbrances). The rules are different in each province, so please contact a licensed trustee for more information.