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
March 11, 2014 at 1:30 pm, 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.
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