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

"*" indicates required fields

Name

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

keeping certain possesions

I am currently financing a bed through a comapany where I have 12 equal payments interest free. I have about 7 more months to pay. If I claim bankruptcy will I have to give this piece of furniture back or can I contimue to make my monthly payments??

Posted from: Alberta

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “keeping certain possesions”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The answer to this is depends on the type of contract that was used. If a security agreement was signed then as long as the financing company agrees you can continue to make the payments even after a bankruptcy is filed and keep teh property. If it is a deferred payment plan (i.e. brick don’t pay a cent event) then you can continue to keep the furniture as long as you make payments to the trustee for the full purchase price of the property. So either way you can arrange to keep the property if you want.