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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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Do i get to keep my car if i go bankrupt

If i had to declare bankrup ,cause i can’t make ends meet,a personal loan,mortgage and what about credit cards that i keep taking money from one to pay the other one,i’m a single mom with a house a personal loan ,i’m 51 and never have a penny to my name all i do is work and stay in the red always ,i’m over 84 thousand in debt and never have money left ,but i was wondering if i would get to keep my car for work ,its been combine with the morgage,and would they go after my pension at work ,please help me !

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One Response to “Do i get to keep my car if i go bankrupt”

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

In most instances people have no problem keeping their car or home when they file a bankruptcy. From the sounds of things, for you to keep your car and your home will have to continue to make the associated payments, but will potentially be able to deal with all the other debts with out impacting these contracts.

As there is substantial differences in treatment of assets between provinces it is important to contact a licensed trustee in your area and they will be able to provide details as to the best way to approach this situation based on the applicable provincial legislation.