March 12th, 2007 by Questions
we’ve lived in the US for a couple of years, and have been trying to sell our house in Ontario for the past year.
We have extensive debt in the form of 3 mortgages, 2 lines of credit and 5 creditcards.
We thought we’d be able to settle most of the debts with the sale of the house, but things have been going horribly wrong.
We’re not in default of anything yet, but will be shortly.
We read online, that it’s possible to declare bankruptcy in Canada from the country you live in, and that debt would remain until you come back to Canada.
Is that true, and if so, where do we start?
Please answer soon, our nerves are very frayed..
Thank you so much,