consumer proposal and a leased vehicle

November 9th, 2009 by Questions

My husband and I are considering filing for a Consumer Proposal. We have $20,000 in credit card debt. as well as an $8,000 consolidation loan. My concern is that I have a Leased vehicle that I require for work. Will I have to return my vehicle?
Thank you!

Posted from: Nova Scotia

Questions

One Response to “consumer proposal and a leased vehicle”


November 10, 2009 at 11:44 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

Typcially speaking there is no impact on a leased vehicle. As long as you are up to date on the payments, have a history of making payments on time and can afford to continue to make the paymetns going forward, then filing a consumer proposal shouldn’t have any impact on the leased vehicle.

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