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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Is bankruptcy an option

I have had a lot of health problems which have affected my ability to work and pay my mortgage – my former partner is an artist and his earnings have always been varied. We are now separated and I have now discovered he ran up 30000 on one of my credit cards – I have others but they are all in good shape. Add in that my house is now worth 100000 less than the mortgage – is bankrupty my best option?

Posted from: Alberta

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One Response to “Is bankruptcy an option”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

We would have to sit down and look at things in more detail to know for sure, but from the sounds of it a bankruptcy will help you to deal with all of these outstanding amounts. There is a good argument that you would be best to stop making your mortgage payments and let the bank foreclose prior to you filing for bankruptcy so that you can clear yourself of the large mortgage as as well.

The best thing for you to do now is to contact local trustee, sit down with that trustee and have them look at things in detail and determine which direction would be best.