How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Debra Your Own Question
Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 97979
Experience:  Lawyer
10263656
Type Your Canada Law Question Here...
Debra is online now
A new question is answered every 9 seconds

As a Company, we have a line of credit and mortgage with a

Customer Question

As a Company, we have a line of credit and mortgage with a bank. Imagine you have provided an altered financial statement to them. If they realize, how long do they give you time to close the bank account and pay-off the loans?
JA: Because real estate law varies from place to place, can you tell me what state this is in? PayPal, Debitcard or credit card are all fine.
Customer: Ontario, Canada
JA: Has anything been filed or reported?
Customer: not yet.
JA: Anything else you want the lawyer to know before I connect you?
Customer: no
Submitted: 3 months ago.
Category: Canada Law
Customer: replied 3 months ago.
Do they ask you close the bank account first and then file the case ? If they first close the account, can you hope that they are not going to file?
Expert:  Debra replied 3 months ago.

Hello! My name is***** you for your question. I'm reviewing it now, and will post back again shortly.

Expert:  Debra replied 3 months ago.

They would likely call the loan at once and so you would have to pay at once, in full.

They would also most likely call the police at once but there is no way of knowing what they would do really as there is no set rule or policy.

Does that help as a starting point?

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

Expert:  Debra replied 3 months ago.

Is there anything more I can help you with at this point in time?

Related Canada Law Questions