December 6th, 2011 by Questions
Do I need to give up my car when declaring bankruptcy?
Posted from: Saskatchewan
One Response to “Keep car”
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December 06, 2011 at 1:15 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
When filing for bankruptcy most people get to keep their cars, but in most provinces it does depend on:
a. The value of the car;
b. The amount of money owed on the car (if any); and
c. The exemptionsthat are set in your province.
In Saskatchewan your exemption reads a little different than most. It reads that you are able to keep up to one motor vehicle if it is necessary for your occupation) and no dollar limit is set.