Ask a Canada Law Question, Get an Answer ASAP!
What province is this please? How much are they suing you for?
Was there any agreement that they can call the loan at any time?
Are you able to take out a mortgage from another bank to pay off this line of credit?
Have you told then this?
You can buy yourself more time by putting in a notice of intent to defend. That will buy you 10 more days.
Otherwise, if you want to put in your statement of defence then you have to start off by saying that you are the defendant. Then you state which paragraphs in the statement of claim you agree with. Then you state which paragraphs in the statement of claim you have no knowledge of. Then you state which paragraphs of the statement of claim you disagree with and then you tell your side of the story. Presumably your defence is that you are not in default and have been making payments and you do not know why they are suddenly calling the line of credit which is in breach of your agreement.
However you better review your documentation to make sure they don't have the right to call the loan at any time.
You are very welcome.