What affects applying for bankruptcy protection?

September 26th, 2014 by Questions

I sold a motor home 4 months ago, on kijiji, does this effect my applying for bankruptcy protection?

Posted from: Alberta


One Response to “What affects applying for bankruptcy protection?”

, Barton Goth, Trustee said:

This is something that may cause you problems, but it is difficult to tell without knowing more specifics. Whether or not this will be an issue will depend on when you chose to file a bankruptcy or a proposal. It will depend on what you did with the money you received from the sale of this property and whether what you received was roughly equivalent to the market value. In some instances this answer can even depend on who you sold it to. The important thing is that you contact a local trustee, like myself, to discuss the details of this transaction. Don’t do anything until you have received qualified advice as if you do things improperly it can cause significant problems with you and the people you sold the trailer to.

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