March 27th, 2009 by Questions
if we file for bankruptcy then sell our house, are the creditors entitled to any of the profits
Posted from: Ontario
March 28, 2009 at 9:28 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
Yes, in Ontario any equity in your house is lost and creates a benefit to your creditors. So if the house is sold, any money that would be received by you would be diverted to the trustee and divided up among your creditors.
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