secured loan

August 17th, 2011 by Questions

If I have a Bank Loan for 30,000.00 secured by my vehicle which is only worth 8,000.00. Will any of this debt be considered in the consumer proposal

Posted from: Alberta


One Response to “secured loan”

, A licensed trustee said:

If you surrender the vehicle prior to filing the proposal then whatever the shortfasll is on the loan will be dealt with as part of the proposal. If you want to keep the car then you’ll have to keep paying the entire loan…

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