January 18th, 2011 by Questions

I have 2 major issues, im in debt almost to the point of insolvency and own a house that has massive structural issues that the insurance company wont cover. A preexisting home oil in the foundation plus mold and structure failure. I can barely afford bills and certainly cannot afford to fix the problems and the debt. I do not want to keep the house, cant afford to fix it and physical health let alone stress is killing me. On a number of pills for the anxiety etc.

When you file bankruptcy and in the process hand over the keys to the house, can the bank come after even after youve filled bankruptcy. Do they have any more control over you then other creditors and can they attack you for money well beyond the 21 months period. I am certain to be over the $1900 limit and am fully aware that bankruptcy wise I will be doing the 21 month option.

Posted from: Ontario


One Response to “John”

, A licensed trustee said:

No, the bank cannot come after you when your bankruptcy is completed. If you were keeping the house then you’d be required to keep paying the bank, but once you surrender the house to the bank they become just like all of your other creditors – no more or less power.

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