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Writ of Seizure and Sale of Land

I have no income because I am disable. My son currently pays for our mortgage, and he is joined title. I received a Writ of Seizure and Sale of Land from my credit card. What step should I take now? Would filling consumer proposal/bankruptcy can stop the writ of seizure and sale take in place? However, I do not have any income to pay for the consumer proposal monthly’s payment.
The only option I have now is to leave everything as it is and hopefully I would receive CPP within months. If the credit card company just sit on the title of our home then I would have some time to deal with this debt when my financial get better, but if they decided to take possession of our home, by then do you think it would be too late to stop everything?
We would like to keep our home. Could you kindly let me know what would be best my option?
Thank You.

Posted from: Ontario

One Response to “Writ of Seizure and Sale of Land”

A licensed trustee said...

A Writ of Seizure and sale doesn’t give your creditors the right to seize and sell your home. When a Writ is issued it is registered with the local Sheriff’s office and if you try and sell your home, or refinance it the Writ will come into play. Otherwise the Writ will sit and accumulate interest until it is dealt with.

Once you are in a position to offer your creditors a proposal the Writ will be included. For now, do what you have to do to live – just recognize that this debt will not go away and the intertest is climbing…