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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Can not pay my $50000 credit

I am owing approximately $50000 in credit card and line of credit with three different banks involved. I tried debt settlement counseling but it did not work because I lost my job after nine years in the auto industry.
My creditors are prepared to freeze my bank account that I have by just getting a support allowance from the government to pay my rent and get food while I upgrade myself for the job market.
I do not have any other choice but to file for bankruptcy. What exactly is involved/happens when someone files for bankruptcy? In terms of assets in your apartment, does your creditors have the right to take it? If so, what can they take/not take based on the law?

Posted from: Ontario

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One Response to “Can not pay my $50000 credit”

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

With so many questions you would be best to contact a local trustee and arrange a consultation. This will allow the trustee to look at your situation in detail and advise you how a bankruptcy will operate.