FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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can i choose to give up my house and two vehicles

if i go bankrupt can i have the creditors take my home and two vehicles? if so does this obsolve me of these specific debts? and what happens to credit card debt, line of credit and personal loans?

Posted from: Ontario

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One Response to “can i choose to give up my house and two vehicles”

A licensed trustee said...

Yes, you may voluntarily decide to surrender your security (hand over your home and/or your cars) if you file for bankruptcy.

We generally suggest that you surrender the house and actually move out before you file for bankruptcy – it is easier on you to only have to worry about one thing (the move) at a time… Once you’re settled into your new place you can file for bankruptcy (or a proposal).