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 Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Involuntary bankruptcy

Recently our home went into foreclosure. The mortgage company has not been able to sell the home and is now trying to serve me papers. I have been told they are going for involuntary bankruptcy with a judgement and a trustee recommendation to handle my estate. As I have not been served, if I see a trustee of my own and file will this stop? Thank you

Posted from: British Columbia

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One Response to “Involuntary bankruptcy”

A licensed trustee said...

You have the right to file bankruptcy at any time – so if you file before a petition is heard by the Court the hearing won’t be necessary. It would be quite unusual for a mortgage company to actually petition someone into bankruptcy – there’s no reason for them to do so (they can sell your house via the mortgage). You may want to speak with a lawyer and ask them to confirm the mortgage companies intentions – something sounds a bit “wonky” to me.