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

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*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.

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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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car question

i still owe money on my car. the monthly payment is affordable to me. can i keep making paymnents and keep my car if i file bankruptcy?? it is the only thing i have.

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One Response to “car question”

A licensed trustee said...

Whether or not you will be allowed to continue to make your car payments (and therefore keep your car) will be decided by the lender, not your trustee.

Assuming that the bank or finance company you are dealing with properly registered their loan on the car, then the car loan will be excluded from either bankruptcy or a proposal.

When you speak to a trustee simply tell them about the loan – depending on which lender you are dealing with your trustee should be able to tel you whether or not they will let you keep your car.