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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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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Loan

If I have a loan with my bank but have my car as collateral can I still clear the loan payments and keep my car?

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One Response to “Loan”

Barton Goth GCO Bankruptcy Trustees said...

When you have given security the secured loan lagely operates outside of the bankruptcy process. The only way you can keep the car is to make arrangemnts that are acceptable to the lendiing instituion.

The only way a bankruptcy can impact this contract is if you give the car back to the lending instituion prior to filing for bankruptcy. If this is doen then you can be cleared from the shortfall on this secured loan.