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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Help – Borrowing Money, to make other payments.

I am thinking about claiming bankruptcy as I am finding myself having to borrow money from my current employer to pay my mortgage and car payment.

My question is, I have never missed a payment on either my mortgage or car payment…but as the days go on I am getting into more debt with my employer, would my mortgage and vehicle be included in the bankruptcy?

Posted from: Alberta

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One Response to “Help – Borrowing Money, to make other payments.”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

A bankruptcy really only impacts your unsecured creditors. So a car loan and a mortgage are not affected. However, there is an exception to this rule, if the property is either seized or returned to the lender, then the shortfall would be cleared by the filing of a bankruptcy.