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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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Mortgage renewal in bankruptcy

will may have to declare bankruptcy soon. Our mortgage is up for renewal in 6 months. If we have never missed a payment over 10 years will they renew our mortgage if we our in middle of bankruptcy? We have less than 10,000 in equity

Posted from: Ontario

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One Response to “Mortgage renewal in bankruptcy”

A licensed trustee said...

Most mortgage companies will allow you to renew early – we generally advise anyone with concerns about their renewal to do so BEFORE they file. As a rule, renewals are not affected by a bankurptcy or consumer proposal filing, but it is your home and if you have any fears then the best way to deal with them is to renew early.