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

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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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What will happen to my rental home

I have about $8,000 equity on my rental home; but I also has a lien of $5,000 on the same home.

Can you please stell me what will happen to the lien of $5,000 and my rental home if I decide to go bankrupt ?

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One Response to “What will happen to my rental home”

Barton Goth GCO Bankruptcy Trustees said...

This is really going to depend on the type of lien. If it is simply a registration entered by a regular creditor in an attempt to force payment it will be removed by a bankruptcy. However, there are certin registrations that are not tha tsimply. As a result you will need to contact a local trustee.

You will also find that things are complicated by the fact that it is a rental home and you may have some additional ramificaitons a bankruptcy will have that you will need to discuss with the trustee.