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Legal Ease
Legal Ease, Lawyer
Category: Canada Law
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Experience:  Lawyer
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I have been served with a statement of claim and I wish to

Customer Question

Hi. I am Rob. I have been served with a statement of claim and I wish to statement of defence however can not afford a lawyer so tryingto complete the form However not sure what I need to include on the form
JA: Thanks. Can you give me any more details about your issue?
Customer: I have a line of credit instead of a mortgage secured by my house. House is appraised at $850,000 and the line of credit was for $350,000. My current drawdown on the LOC is $345,539. However a few years ago the back decided that I could no long draw on my outstanding credit and had to pay interest monthly
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Submitted: 10 months ago.
Category: Canada Law
Expert:  Legal Ease replied 10 months ago.

What province is this please? How much are they suing you for?

Customer: replied 10 months ago.
Ontario and they want payment in full of my line of credit of $345,539.00 even though only $6,000 behind on payments
Customer: replied 10 months ago.
want to dispute need for payment in full and foreclosure on my loan
Expert:  Legal Ease replied 10 months ago.

Was there any agreement that they can call the loan at any time?

Customer: replied 10 months ago.
Not that I am aware of. It I have had the LOC with the bank for over 10 years. And the LOC balance currently is $346,000 and my house is currently valued at $875,000
Expert:  Legal Ease replied 10 months ago.

Are you able to take out a mortgage from another bank to pay off this line of credit?

Customer: replied 10 months ago.
Not at this time however I have a tax refunding owing to me of about $15,000 which I expect to receive in February. As well my house is being put up for sale in February. And as mention is valued at $900,000 plus
Customer: replied 10 months ago.
Which is more than twice what the line of credit is for
Expert:  Legal Ease replied 10 months ago.

Have you told then this?

Customer: replied 10 months ago.
Not yet
Customer: replied 10 months ago.
I can now that have decided but still need to file defence against letter recieved from Superior Court Of Justce letter
Customer: replied 10 months ago.
Not yet as just working with my real estate agent now on price and particulars. But will however still need to reply to Superior Court of Justice judgement against me
Expert:  Legal Ease replied 10 months ago.

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.

Customer: replied 10 months ago.
ok thank you
Expert:  Legal Ease replied 10 months ago.

You are very welcome.

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