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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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CAR LOAN AND BANKRUPTCY

in bankruptcy if i have a car loan am i able to keeo it

Posted from: Alberta

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One Response to “CAR LOAN AND BANKRUPTCY”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

As long as the equity in the vehicle is less than the amount allowable in the province (in Alberta it is $5,000) and you are able to continue to make the payments on the vehice then you shouldn’t have any problem. These are the only two criteria that need to be fulfilled, if you can meet these then the filing of a bankruptcy won’t impact your vehicle or the loan against the vehicle in any way.