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

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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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How can we help you?

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 keep my car?

Hi,

I have a secured car loan for $15,000 and the car is valued at approximately $14,000. If I go bankrupt to claim my mastercard, can I keep my car and car loan?

Posted from: British Columbia

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One Response to “Can I keep my car?”

A licensed trustee said...

As long as your car loan is current (payments up to date) when you file for bankruptcy or a consumer proposal and you keep them current the lender has no right to come and take your car.

In other words, yes, you can keep your car as long as you keep paying for it.