can I declare bankruptcy

May 5th, 2011 by Questions

My house is going into foreclosure,with the debt I will be left with because of legal fees from the bank and other costs can I start the bankruptcy process now

Posted from: Newfoundland and Labrador

Questions

One Response to “can I declare bankruptcy”



, A licensed trustee said:

You may file at any time in the process. We recommend that you “move out” before you file. That way there is a clear date that you surrendered the house back to the mortgage company and you won’t be held responsible for the costs after that date (the costs will be dealt with by filing bankruptcy). If you file and saty in the house the mortgage company and utilites have the right to expect payment for the time you remain in the house and these debts will not be dealt with by your bankruptcy.

Speak toa trustee in your area BEFORE you decide what to do.

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