March 19th, 2013 by Questions
I was wondering if I claim can I keep my mini van and camper I am looking into this because I got sick and am unable to work
Posted from: Alberta
March 19, 2013 at 6:47 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
If you file bankruptcy you will be able to retain the minivan as long as it has less than $5,000 equity. However, the camper may be a different story. The minivan is considered an exempt asset, meaning that it is protected under the Civil Enforcement Act of Alberta. However, there is no category for the camper. So this means the camper will likely have to be realized on in a bankruptcy (meaning the trustee will have to realize money in place of that camper. If the camper is that important to you you could always provide that money to the trustee. The other option is you may want to file a consumer propsoasl instead (this is simply a way to avoid a bankruptcy and there is no vesting of assets like there is in a bankruptcy so your camper isn’t lost). If you want more information on either a bankruptcy or a consuemr proposal you can always call me at 780-435-5110.
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