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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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can i keep my car and my husbands car?

My husband is going to be claiming bankruptcy, but I am not. We live out of town and need our vechicles to get to and from work. We don’t work close to each other, I’m in one town and his work is about 100km in the opposite direction, so sharing a car just wouldn’t work. I drive a 1998 mini van and he has a 1996 hyundi, neither car is worth much and both are totally paid for. Are we going to have to give up the vechicles and if so how are we supposed to get to work?
Also we have joint bank accounts, how do they decide what money is his and what is mine?

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One Response to “can i keep my car and my husbands car?”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

This depends on whose names are the vehicles are registered in and the province in which you live. Most provinces permit an individual an exemption for a motor vehicle up to a certain dollar value (e.g. Alberta it is up to $5000 equity in a motor vehicle). It would be important to contact a licensed trustee in your area to verify the amount allowable in you province.