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When you say you've been sent a letter do you mean you have been served with a Statement of Claim?Did you receive this by mail?Or was this a letter from a lawyer?What province is this please?
So you can contact the lawyers and state you want to come to a settlement.
You can provide the same options you did to the bank and see what they say.
If they say no then you have to put in a statement of defence if you want to defend the lawsuit.
Your right is to have a fair trial. But your obligation is actually to pay in full because that is what you agreed to do if the loan went into default.
Then you can put in your statement of defence and hope that the bank changes its mind when there is a pre-trial settlement conference before the trial.
That makes good sense.So if that is OK with you then go ahead and propose the payment plan.
But that wasn't when you were going to let them register the judgment on title was it?I suggest taking what you owe in full, dividing it up over how many years you would have had to pay and then proposing that amount.
You're very welcome.
I am sorry to hear this.All you can do is put in a statement of defence and then hope you can settle this during the pretrial settlement conference.
I cannot know what the thinking of the bank has been but it sounds like that lawyer has told you the truth. The bank doesn't think that you can manage the payments and they don't want to take a chance.
I have provided them for you several times. I have nothing more to add. I've already suggested that you put in a statement of defence and try to settle at the pretrial settlement conference.
I don't know. You would have to ask the lawyer's that.