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I have been served with a statement of claim and I wish to…

Customer Question
Hi. I am...

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

Lawyer's Assistant: Thanks. Can you give me any more details about your issue?

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

Submitted: 2 years ago.Category: Canada Law
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Answered in 7 minutes by:
1/31/2016
Lawyer: Debra, Lawyer replied 2 years ago
Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 106,101
Experience: Lawyer
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What province is this please? How much are they suing you for?

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Customer reply replied 2 years 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 reply replied 2 years ago
want to dispute need for payment in full and foreclosure on my loan
Lawyer: Debra, Lawyer replied 2 years ago

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

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Customer reply replied 2 years 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
Lawyer: Debra, Lawyer replied 2 years ago

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

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Customer reply replied 2 years 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 reply replied 2 years ago
Which is more than twice what the line of credit is for
Lawyer: Debra, Lawyer replied 2 years ago

Have you told then this?

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Customer reply replied 2 years ago
Not yet
Customer reply replied 2 years ago
I can now that have decided but still need to file defence against letter recieved from Superior Court Of Justce letter
Customer reply replied 2 years 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
Lawyer: Debra, Lawyer replied 2 years 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.

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Customer reply replied 2 years ago
ok thank you
Lawyer: Debra, Lawyer replied 2 years ago

You are very welcome.

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