Question Asked...
If I declare bankruptucy and I have a ski-doo with an approximate value of $3000 what will happen? Do I lose the ski-doo?
Posted from: Newfoundland and Labrador
Subscribe to our Blog
Posting by topics
Site Feed
Local bankruptcy trustees
Click your province to find trustees in your area:
More Resources
Posted on Tuesday, September 30, 2008 1:04 pm
If you like to read more about bankruptcy related topics, please click on the links below:
If you want to keep your Ski-doo you will likely have to pay your trustee and amount equal to the value of your sled. Otherwise, your trustee will likely put it “up for sale” in order to raise cash for your creditors.
Depending on your situation (ie how much yo owe versus how much you earn) you might want to consider a consumer proposal instead of bankruptcy. If you file a proposal you’ll get to keep your sled…
Contact a trustee in your area and give them a call - that’s the best way to get started.