Renegotiating a Mortgage After Bankruptcy

We are currently in credit counseling, and we have been thinking about bankruptcy. We are up for renewing our mortgage in Aug. We need to bring down the rate at which we borrowed. Our mortgage is one of the reasons why we are in this position now! What would filing for bankruptcy do to renegotiating? We are in Alberta, Canada if that helps at all. Thanks for your replies.


By Sherri from Alberta

December 28, 20090 found this helpful

You need to talk with the place you got the mortgage from ask them all the questions you want to, good luck.

ReplyWas this helpful?Helpful? Yes
December 31, 20090 found this helpful

You may not be able to get another loan after filing bankruptcy for at least 5-7 years.

ReplyWas this helpful?Helpful? Yes
January 4, 20100 found this helpful

I must say, Bankrutcy is the absolute worst thing you could do to yourself and your family. Trust me. You will not be able to get a loan for a car, house, or anything else you might need along the way. We are finally out of the position where we can get nothing, after 5 years.

I would talk to the bank/finance company and get a low fixed rate. They are pretty low right now. I would also take a look at going to a Dave Ramsey class or taking his online class. It cost a little bit but it is worth every penny. Even if you just go to his website and look at the free info that he gives it will get you off to a pretty good start. I hope that things get better for you in the New Year.

ReplyWas this helpful?Helpful? Yes
November 1, 20130 found this helpful

I suggest to file bankruptcy for your financial problem, you don't have any option, unless you have enough money to pay it all.

ReplyWas this helpful?Helpful? Yes

Add your voice! Click below to comment. ThriftyFun is powered by your wisdom!

Budget & Finance BankruptcyDecember 28, 2009
Handing Over Keys To House
Paying Off Your Home Mortgage
Dental Work
Eating After Having Dental Work Done
Losing Weight After Having a Baby, Woman in Red Coat Walking Her Baby Stroller in the Park
Losing Weight After Having a Baby
Mortgage Paperwork
Getting a Mortgage With Bad Credit
Christmas Ideas!
Thanksgiving Ideas!
Ask a Question
Share a Post
You are viewing the desktop version of this page: View Mobile Site
© 1997-2016 by Cumuli, Inc. All Rights Reserved. Published by . Page generated on November 18, 2016 at 2:25:29 PM on in 940 msecs. Use of this web site constitutes acceptance of ThriftyFun's Disclaimer and Privacy Policy. If you have any problems or suggestions feel free to Contact Us.
Loading Something Awesome!