2 cars in the family

October 17th, 2009 by Questions

A family with 2 small children-both adults want to declare bankruptcy.
Both working days-both need cars to bring/pu kids to from school,babysitter,also we need cars for job.
Can we keep two cars ?

Posted from: Ontario


One Response to “2 cars in the family”

, A licensed trustee said:

In Ontario, everyone that files for bankruptcy is entitled to an exempt vehicle worht up to $5,650. If you are both filing then yopu can claim two cars. Now, the cars need to be registered in each person’s name (ie they can’t both be registered in one name because each person that files is only allowed one vehicle).

Talk to your trustee about this before you start chnaging registrations.

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