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

"*" indicates required fields

Company

This field is for validation purposes and should be left unchanged.

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*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.

This field is hidden when viewing the form

Source

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.

Agreement*

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.

Select Trustee By Province

Please Advise…

I am married, live in Ontario and have a mortgage that`s $40,000 more than our house is worth (it`s worth around $300,000 and has 3 yrs. left on term.). I`m also carrying $75,000 in credit card, L.O.C. debt in my name only. Should I declare bankruptcy or go through an alternative method. Thanks

Posted from: Ontario

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “Please Advise…”

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

It is very difficult to make a specific recommendation without first sitting down and reviewing the specifics of your situation. So what I would recommend is contacting a local trustee and arranging a time for them to review things in more detail.

Having said that, it does look like a bankruptcy is one plausible option, but what it will really depend on is your monthly cash flow as the general rule is the more cash available after your living expenses the more likely you will be able to avoid a bankruptcy.