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

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leased vehicle under wifes name,debt is mine

hi there,
i have a loan for a vehicle that i purchased about 1 1/2 years ago.the vehicle was transferred shortly after to my wife,would royal bank seize the vehicle if i filed for bankruptsy even though it is under my wifes name??are they allowed to?

Posted from: Ontario

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One Response to “leased vehicle under wifes name,debt is mine”

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

This is an unusal situation and one you are best to discuss directly with a local trustee. Having said that, Royal Bank would be secured against the vehicle, regardless who it is registered to, so if you filed bankruptcy I would expect they would seize the vehicle, and that is likely well within their rights.