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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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What happens to my car if I file bankruptcy?

If I was given a car from my parent -do I loose the car once I claim bankruptcy?

Posted from: Ontario

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One Response to “What happens to my car if I file bankruptcy?”

Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said...

Exemptions for motor vehicles vary from province to province; in Ontario there is an exemption for a motor vehicle to a maximum value of $5,650.00. The Bankruptcy and Insolvency Act provides that exemptions for judgement debtors shall apply in bankruptcy.