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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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bankruptcy and sale of house.

if we file for bankruptcy then sell our house, are the creditors entitled to any of the profits

Posted from: Ontario

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One Response to “bankruptcy and sale of house.”

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

Yes, in Ontario any equity in your house is lost and creates a benefit to your creditors. So if the house is sold, any money that would be received by you would be diverted to the trustee and divided up among your creditors.