FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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MRS>

My wages have been garnisheed by 20% for a debt owing of 149,000 on a previous owned business. Can i file business bankruptcy and keep my house ? My house has a mortgage owing of 104,000 on a first mortgage and a second mortgage of 20,000. The house has been appraised at 130,000. Would i be able to keep my house ?

Posted from: Ontario

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One Response to “MRS>”

A licensed trustee said...

If you owe the debt personally (and that is the only way they’d be allowed to garnishee your wages) then you need to think about filing bankruptcy personally, not for the business. If you file personally then it will inlcude allof your debts, not just the lawsuit, BUT your trustee will have to look at things like the equityb in your house and your income. Based on what you’ve written there doesn’t appear to be any equity in your home which means you won’t lose it, but only the trustee dealing with your file can tell you for sure.

Use the links on this site to find a trustee in your area and give them a call.