Question Asked...
Is it possible to keep both my vehicles after bankrupcty? One vehicle is worth more than $10,000 and I`m making monthly payments on and the other is paid off but worth less tha $5000. My wife and I need both vehicles for work, and hoping that if we do file for bankruptcy we can keep both.
Posted from: Ontario
This is likely possible. You would have to confirm how the exemptions work with a local trustee, but most provinces allow 1 vehicle exemptions per debtor. Additionally the fact that your first vehicle is finances, there likley isn’t any equity in it so there would be no need to claim it as exempt.