FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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small business and mortgage

I want to file personal bankruptcy and i have a small business which debt involves the government. they refuse to make payment agreements with me and i am worried that my house mortgage with my boyfriend will be involved. can they do anything to our house and to him?

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One Response to “small business and mortgage”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

This depends on:

a) The amount of equity in the house; and
b) Who’s name is on title.

It would be important for you to contact a licensed trustee to discuss this further as soon as you can. Time is of the essence when dealing with a property and the government as the government has unique ways of registering on title in a manner that survives a bankruptcy/proposal, although this can only happen if they register prior to the filing of the bankruptcy/proposal.