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Disability vehicle exemptions

Hello,

I’m physically disabled. Due to this, I’m worried about not being able to exempt my vehicle when filing for bankruptcy. I depend on this vehicle to allow me to buy groceries and travel to physicians. Are there any special circumstances that would allow me to exempt my vehicle due to my physical disability?

Thanks in advance.

Posted from: Ontario

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One Response to “Disability vehicle exemptions”

A licensed trustee said...

This question, or one much like it has been asked before – unfortunately, the answer remains the same.

I am not aware of any specific exemption for a vehcile that has been modified for a disabled person’s use. Each province has their own exemption for motor vechiles – in Ontario you may keep a vehcile worth up to $5,650 after all liens/loans have been deducted. If your veicle is worht more than that then you have to pay an amoutn equal to the excess into your bankrputcy in order to keep the vehicle.

My suggestion is for you to speak to an insolvency lawyer BEFORE you decide to file for bankruptcy. there may be case law that creates some sort of precident for disabled person’s vehicles. If there is not, the lawyer may be able to argue that their should be… Of course the Court may not accept the lawyer’s argument in which case the normal rules will apply.