Hello, not long ago i received A facebook message with a claim against me personally for the mortgage that is outstanding of 244,000. I experienced owned the house with my ex and 36 months ago transferred the land name to him and their moms and dads. I didn’t know this would not release me personally through the home loan until We received the declare that We am being sued because of it. I’ve resided in Australia for the previous 7 years while having no intends to go back again to Alberta canada where We am being sued. Just what will take place if we seek bankruptcy relief in Canada? Can it effect my odds of trying to get mortgage loans and resident ship in Australia? If thereвЂ™s a statutory suit claim for a home loan will the bank nevertheless make an effort to offer the house to reduce your debt?
Hi Leila. The creditor cannot garnishee your wages in Canada, so there is likely nothing significant that will result from the lawsuit if you have no plans to return to Canada. (more…)