FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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car loan

what happens if the car loan is with more then the car is

Posted from: Ontario

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One Response to “car loan”

A licensed trustee said...

This is a very common situation. If you intend/want to keep the car then you need to keep making your payments. If you don’t want to keep the car you may return it to the lender, they will sell it at auction and then contact you for whatever amount you still owe on the loan.
This type of debt may be dealt with by either a consumer proposal or a bankruptcy – whether or not either of those will make sense for you depends on how much other debt you have and your ability to repay it.