January 13th, 2012 by Questions
if i have a mortgage for 5 years term can i declere a bankruptcy
Posted from: Alberta
January 13, 2012 at 10:10 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
The presence of a mortgage, regardless of the term of that mortgage, doesn’t have any bearing on whether you can file a bankruptcy or not. To be eligible to file for bankruptcy you have to be in a position where you owe greater than $1,000 and be unable to pay your debts as they generally become due. So yes, if you can satisfy those two criteria you are eligible to file.
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