mortage with a line of credit attached to it

July 6th, 2010 by Questions

I have a mortage with a line of credit attached to it. Would this LOC be included in the consumer proposal?

Posted from: Nova Scotia

Questions

One Response to “mortage with a line of credit attached to it”



July 06, 2010 at 12:04 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

No, a consumer proposal is designed to deal with unsecured creditors. When you secured creditors they largely operate outside of the consumer proposal. The only work around is if you return whatever property they are secured by prior to filing the consumer proposal.

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