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When you yourself have any questions that are further need to book an appointment, please phone our office toll free at 1 888 455 6060.
In determining elegibility for bankruptcy will there be a requirement that is basic as owing a lot more than our yearly earnings? Many thanks
Many thanks for the email. The fundamental demands to be entitled to seek bankruptcy relief are that the person must certanly be insolvent (not need the capability to repay their debts), owe at the least $1000, and it is a resident that is canadian have conducted company in Canada in past times 12 months, been a resident of Canada within the previous 12 months or have actually nearly all their assets in Canada.
Our workplace provides free, no-obligation consultations if you want more info about what a Bankruptcy or Consumer Proposal would appear to be for you personally. You’ll reach our office toll-free at 1 888 455 6060 for those who have any extra concerns or want to book an appointment.
We very own 2 properties, 2 homes, we reside in one and my moms and dads are now living in the next one. The lease they pay me personally covers the land and mortgage taxes with this home. We have to sell the second property which only has maybe 10000 in equity if we would have to file for bankruptcy, would?
Brand New Brunswick 21, 2020 february
Many thanks for the e-mail. If you decide to seek bankruptcy relief, you will not be asked to offer either of the properties. There was more info that might be needed seriously to figure out what your alternatives would involve; but, the choice to help keep or surrender your assets rests you can afford to continue them) with you(so long as the payments are up to date and. If youвЂ™d prefer to review exacltly what the choices seem like, weвЂ™d be thrilled to achieve this to you.