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

"*" indicates required fields

Facebook

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

Car Loan

Hi There,
In May 2008 my car loan will end. I want to delcare Pesonal Bankruptcy. Will I lose my car or will the bank left me finish doing my car payments. I have not Missed one payment since I started the loan in 2003.
Regards
Thank-you

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

2 Responses to “Car Loan”

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

The only way you can include this loan in the bankruptcy is if you return the car to the lender. If you keep the car you may be able to try and negotiate with the secured lender you may be able to structure it so that you will only pay up to the value of the car, but there is nothing preventing the secured lender from requiring you to make payments in full.

Barton Goth, GCO, Bankruptcy Trustees said...

This is partially dependent on who the financing is with. Normally there isn’t a problem with this type of arrangement, but it is up to the creditors. The best thing for you to do is to contact a licensed trustee as he will be more familiar with how individual lenders operate in your area.