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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Bankruptcy Question

Will you lose your house if you declare bankruptcy?

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Posted from: Ontario

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One Response to “Bankruptcy Question”

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

To answer this question you really need to contact a local trustee as there simply isn’t enough information to determine what is going to happen with the house. This will all depend on a) the value of your house, b) the amount of the mortgage against the property, c) whether or not you are up to date on the payments, and d) your ability to remain current on the payments going forward.

In most cases people who file for bankruptcy do not loose their house, but it is important to review the details in advance with a licensed trustee to verify what will happen in your situation.