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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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secured loan

what happens to secured loans in bankruptcy if the creditor choosees not to take whatever was pledged as secuity. Is the loan then cleared in the bankruptcy.

I have a citifinacial loan that was secured with household furniture (that really isn`t worth much) and was told while signing the paper that they don`t really take the things used a security by the loan officer. I realized that they have the right to take the items.

Posted from: Alberta

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