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

"*" indicates required fields

Company

This field is for validation purposes and should be left unchanged.

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

This field is hidden when viewing the form

Source

How can we help you?

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.

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Select Trustee By Province

Asset concerns

I own a boat and a trailer that are paid for in full but have gotten behind on bills and am thinking of filing a consumer proposal, what will happen to these assets.

Posted from: Ontario

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “Asset concerns”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

When filing a consumer proposal you don’t directly loose assets, but they have to be considered.

What happens is that a consumer proposal must offer more to your creditors than a bankruptcy. So in a bankruptcy both of these assets would be sold and create a distribution for creditors. So this is something that will have to be reviewed by your trustee and considered when they determine what type of offer must be made to your creditors.