guarantor of loan
I am a guarantor of someone else’s loan. When I file for bankruptcy in Toronto, does this release me from this debt as i can no longer afford to pay the loan?
This entry was posted
on Friday, April 28th, 2006 at 12:21 am by Questions and is filed under Uncategorized.
You can leave a response, or trackback from your own site.
Filing for bankruptcy releases you from this guarantee.
I am not sure of your comment that you “can no longer afford to pay the loan”, because as a guarantor, you wouldn’t be making payments. I assume you mean that if you were called on to honour your guarantee, you would not be able to afford the payments.
If you have any further questions, feel free to contact me.