What happens to my car if I file bankruptcy?

March 11th, 2014 by Questions

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

Posted from: Ontario

Questions

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.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)