Should we sell our house before filing for bankruptcy?

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Should we sell our house before filing for bankruptcy?Should we sell our house before filing for bankruptcy?

Should we sell our house before filing bankruptcy?  Our current mortgage has almost reached maturity and they are not interested in refinancing. We have a possible 30-40,000 in equity

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It depends on the exemption equity you are allowed by your province.

In some cases, some of the equity will belong to the trustee for the benefit of the creditors.

You can get into serious trouble if you don’t follow the bankruptcy rules.

I suggest you see a trustee ASAP so you know how to conduct yourself.

You can find a trustee in your area at the following link:

https://bankruptcycanada.com/trustees1.htm

Trustee

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