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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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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home equity

We owe 17,000.00 in unsecured credit cards and have 50,000 equity in our home but have been declined for both reconsolidation and refinancing, can we be approved for a consumer proposal?

Posted from: Ontario

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One Response to “home equity”

A licensed trustee said...

Yes you can, but you will have to offer your creditors 100% repayment plus the costs of the proposal. You should expect to have to pay around $22,000 in total to deal with the $17,000 that you owe.