Car Accident

August 16th, 2006 by Questions

Hello,
We have been bankrupt since May, 2006. I was recently in a vehicle accident (at no fault of our). I just received news today that my vehicle may be written off and a settlement with us will take place. My question is this, If the insurance company writes us a settlement cheque, will it be garnished by our trustee or can this be used to purchase another vehicle. Am I allowed to purchase another vehicle, and does it have to be under $5000.00. Advice would be appreciated.

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One Response to “Car Accident”



, Barton Goth, GCO Inc. Bankruptcy Trustees said:

There is a great deal of variation in the exemptions that are allowed from province to province so you should contact a licensed trustee in your local and he will be better able to advice you as to the applicable provincial legislation.

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