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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 Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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MIF Deficiency Judgements

If I go bankrupt will I still be liable for my debt after the foreclosure of my house?

Posted from: Alberta

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One Response to “MIF Deficiency Judgements”

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

As long as the foreclosure was initiated prior to the filing of the bankruptcy, then the shortfall is simply an unsecured debt that is cleared by the bankruptcy. Timing is essential, if the foreclosure was after the filing of the bankruptcy, then you would still be responsible for the debt.